Cyprus would seek EU bailout money 'if necessary


#241

Cyprus isn’t part of NATO but it has two huge British bases. You can’t actually cross the island by the main roads without driving through both bases.


#242

Edited already. Was thinking of Greece.


#243

I wonder if de la rue are busy this week…


#244

Pushed out till earliest Tuesday next week before banks will reopen, if they can reopen that is.


#245

I’d be surprised if they do open. Perhaps with heavy restrictions, but confidence is lost and it can’t be easily regained.


#246

ft.com/cms/s/0/aebf3e16-913b … abdc0.html


#247

Some game of poker.


#248

How’s their share price doing? My father reckons they’ve got to be a winner in these inflationary times. I’m trying to convince him that you can destroy you’re currency electronicly these days.


#249

I would expect that many Cypriots are hearing the Spanish word “corralito” for the first time. I hope Irish people also take this opertunity to familarise themselves with the concept.

en.wikipedia.org/wiki/Corralito


#250

Where’s that “Eur Wedge On De Edge” thread again :smiley:


#251

Cyprus Turns to Moscow: Scenarios for a Russian Role in the Bailout - Benjamin Bidder -> spiegel.de/international/eur … 89964.html


#252

Joseph Weisenthal ‏@TheStalwart 1m
RT @Reuters: Cypriot central bank governor announces “resolution process” for Cyprus banking system #breaking

Reuters: Resolution process will avert bankruptcy and protect depositors up to 100k - Cyprus central bank governor
by anthony.derosa 5:49 PM


#253

Reuters - Laiki Bank has just announced a new limit on ATM withdrawals of €260 per customer


#254

Laiki to be restructured - official -> guardian.co.uk/business/2013 … out-plan-b


#255

The Cyprus fiasco has all the hallmarks of a classic ‘whodunnit’ -> blogs.lse.ac.uk/europpblog/2013/ … ny-kapoor/


#256

Similar piece in Bloomberg: bloomberg.com/news/2013-03-1 … -2008.html


#257

But borrowing rates have been far higher too. Which cost the same “man on the street” money.

Anyway, latest rumour is a bad bank that all uninsured deposits (i.e. >€100k) go into and take a 40% haircut.

So €1MM on deposit last week will now be … €640k … :sick:.

They’re completely finished as a financial centre now however they cut it. Totally annihilated.


#258

Tectonic shits! :open_mouth:


#259

Still, they have the weather.

https://oi49.tinypic.com/3304938.jpg


#260

The Swiss must be rubbing their hands at prospect of all the money being moved to other safe havens