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Cyprus receives Monday deadline to reach bailout deal
Washington Post ^ | 3/21/13 | Michael Birnbaum and Howard Schneider

Posted on 03/21/2013 6:56:41 PM PDT by Kartographer

The euro currency union, a centerpiece of Europe’s efforts to knit its far-flung nations into a coherent whole, edged toward a rupture Thursday when the region’s central bank said it was ready to pull the plug on Cyprus.

The stark ultimatum came in a terse statement Thursday from the European Central Bank’s governing board, which said that on Monday it would cut off the flow of euros to Cyprus’s struggling banks unless the country’s leaders reach agreement with the International Monetary Fund and other European nations on the terms of a $20.5 billion bailout to save their country from financial disaster.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Foreign Affairs; Germany; News/Current Events
KEYWORDS: cyprus; cyprusconfiscation; eucrisis
Every other day, every other day, Every other day of the week is fine, yeah But whenever Monday comes, but whenever Monday comes You can find me cryin' all of the time
1 posted on 03/21/2013 6:56:41 PM PDT by Kartographer
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To: Kartographer

there is somethin’ going on.

fixing Cyprus would cost chump-change to the EU..

why risk the panic of bank runs?


2 posted on 03/21/2013 7:18:19 PM PDT by RockyTx
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To: Kartographer
The Rooskies own the banks in Cyprus.
I think they might be nervous about now...
3 posted on 03/21/2013 7:18:28 PM PDT by Eric in the Ozarks (NRA Life Member)
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To: RockyTx
why risk the panic of bank runs?

I've been asking this question since the plan went public.

And even if there is no confiscation of deposits, Pandora's box is open and depositors in other at-risk EU countries will see they are not immune.
4 posted on 03/21/2013 7:34:40 PM PDT by 867V309
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To: RockyTx

Can you say “Domino?”


5 posted on 03/21/2013 7:40:40 PM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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To: Kartographer
Uh-oh...I think we're up Creeque Alley.
6 posted on 03/21/2013 7:41:33 PM PDT by JPG (Stay strong.)
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To: RockyTx
why risk the panic of bank runs?

Christine Lagarde would rather have this than a run in her panty-hose, especially with the French Police Nationale going through her drawers.

7 posted on 03/21/2013 7:44:43 PM PDT by steve86 (Acerbic by Nature, not NurtureĀ™)
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To: steve86

Christine Lagarde is evil.

The following was posted by Ann Barnhardt - March 17, AD 2013 2:06 PM MST

Yes, MF Global was the Direct Antecedent to Cyprus

Cyprus is MF Global on a national, retail banking scale. Corzine absolutely blazed this trail. The particulars are almost exactly the same. Both MF Global/Corzine and Cyprus were failing entities, both took massive, uber-leveraged risks on European sovereign debt, both swept sacrosanct customer money when the house of cards finally collapsed under the weight of its own math.

The indefensible zeroes and ones were instantly swept from the computer servers and customers were locked-out of their accounts.

Interestingly, both were goaded on and enabled by the same people. Corzine was a crony of the Obama regime, which is operationally a Chicago-based phenomenon, as are the regulators of the futures industry, along with the CME group itself.

Cyprus was goaded, overseen, and then “harvested” by the International Monetary Fund, which is chaired by Christine Legarde, who is a Chicago player, and who actually was a partner at Baker & McKenzie before being placed at the IMF by the Obama regime and bankster oligarchy. Cyprus was Christine Legarde’s play, and Legarde is in the Chicago oligarch circle.

This will happen here. It already has with MF Global, Cyprus is testing the national, retail banking level, and then it will happen here. They might go straight to bank holidays here, as Warren Pollock has been talking about for over 18 months now, or they may do a levy confiscation like this on retirement accounts.

If you have any money exposed to the financial system, you’re just stupid. That’s it. Bottom line.

*************************************

If people cannot see what is obvious, that our own government doesn’t believe in rule of law, then they deserve what is shortly to happen.


8 posted on 03/21/2013 7:58:28 PM PDT by SatinDoll (NATURAL BORN CITZEN: BORN IN THE USA OF CITIZEN PARENTS.)
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To: Eric in the Ozarks

The Rooskies own the banks in Cyprus.
I think they might be nervous about now...


And if the Rooskies are nervous....look out.

I bet they’re all nervous.


9 posted on 03/21/2013 8:30:56 PM PDT by laplata
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