Cyprus would seek EU bailout money 'if necessary


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.


Edited already. Was thinking of Greece.


I wonder if de la rue are busy this week…


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


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

#246 … abdc0.html


Some game of poker.


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.


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.


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


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


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


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


Laiki to be restructured - official -> … out-plan-b


The Cyprus fiasco has all the hallmarks of a classic ‘whodunnit’ -> … ny-kapoor/


Similar piece in Bloomberg: … -2008.html


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.


Tectonic shits! :open_mouth:


Still, they have the weather.


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