E U Robbery

[chesters1]

Green text sounds like Ireland ?

[Steve Walker]

I don't think the stg:eur rate is really germane to the euro crisis except in so much as the basketcase Southern European economies are put in a fiscal straitjacket by sharing a currency with their Northern neighbours.

 

A few observations;

 

This has happened because the German public have had enough, meaning that Cyprus has had to be bailed out by other means. The Germans finally saying "no" ought to be a worry for supporters of the European project.

 

If banking has been helping keep Cyprus's economy afloat, they have probably just eviscerated the golden egg laying goose.

 

The collusion of the EU in crossing that particular line in the sand may mean that the possibility of a raid on deposits is perceived as a risk outside of Cyprus and may have wider ranging detrimental effects on depositor behaviour. As if those struggling EU states really need more of their economic activity pushed into the black economy.

 

It isn't going to help further the impression amongst citizens that the EU bureaucracy is to be trusted or amongst investors that the eurozone is a safe place to do business.

[Andrew]

http://www.youtube.com/watch?v=kz_6jagv_D4

 

Or better still.

 

Edited March 17, 2013 by Andrew

[Andrew]

Back on topic.

 

The ex pats chose to live there, same as any other ex pat, they lived the good life, maybe, maybe not. And now the bubble has burst.

My thoughts.

 

Tough crap, your choice to leave your country for another country, deal with it. Why should our government deal with the aftermath for them.

The military personnel are going to be compensated. and i jolly well think so, they are there doing their job for this country.

 

I would feel the same about any ex pat if their chosen country runs into trouble, not my problem, nor the governments problem, deal with it.

Pick up the pieces and start again like thousands of others have done before you.

 

wow paragraphs.

Edited March 18, 2013 by Andrew

[RUDD]

Surely that should be A.N.?

 

No no no, you cannot use a question mark after a full full stop.

[Andrew]

Hey look at my last post, paragraphs, !! teeee heeeeeeeeeeee

[garylee]

Hey look at my last post, paragraphs, !! teeee heeeeeeeeeeee

Most of the books I read don't have paragraphs: they wouldn't fit into the bubbles.

[Andrew]

:clap3:

[Steve Burke]

What a shame this topic has sunk so low; it could have been interesting.

 

Whatever the legal and moral issues the action by the Cypriots may backfire and result in a run on their banks. What's more, not honouring the 100,000 Euro compensation limit could make it harder for banks to raise funds - and not just in Cyprus.

 

Finally, it could have a knock on affect on the markets caused by a loss of confidence. Markets are partly driven by psychology and this is often more important than the facts.

[Steve Walker]

It's going to be interesting to see what happens over the next couple of days - it wouldn't take much to start runs on banks in the PIIGS countries. A few pictures on Facebook could escalate very quickly.

 

Looks like Russia is threatening to be unhelpful about restructuring its loans to Cyprus.