UPDATE: Cyprus Protesters and Bank Employees Clash With Police

UPDATE: Cyprus Protesters and Bank Employees Clash With Police

www.activistpost.com

Local news in Cyprus is reporting an escalation in the protests that have begun in the wake of attempts by EU chiefs to confiscate the savings of depositors. The news of possible bank closures has enraged the public..... the Central Bank is discussing a possible bank merger rather than a full shut down.

Reports sent hundreds of Cyprus Bank employees and holders of bank's bonds out into the streets. Police deployed strong force outside the Bank's headquarters in the capital Nicosia to prevent them smashing into the building.

(visit the link for the full news article)

IF you guys search the threads when the Cyprus news first broke, I predicted this would happen. By day 2-3, I was scratching my head wondering why the citizen's weren't lighting the banks up with Molotov Cocktails, well indeed it looks to be headed towards that way.

Go figure. Are you listening Bernanke? You said if it had a domino effect and dollar began to collapse, you'd do it here in the states also. Well look at the reactions there, and then imagine all the U.S. citizens after the heads of the Bankers.

www.activistpost.com
(visit the link for the full news article)

IMHO
only good point is now everyone can see whats up
down side:
the PTB now have the new fear tactic
oh Noeeee! this is what will happen if you don't take the haircut...
Crooked legislators will then use that as the excuse to bend over
( like the twenty minute stock market crash pre bailout a while back )

The prospective of removing a portion of someone else's hard earned cash is really asking for trouble..

We are just humans, and it's just natural for one to blow steam over, and to what extent one may ponder? Well, It's everyone's savings we are talking here.

Peace

I've been watching this, and have seen the videos of the long lines at the ATM machines, that they have already limited the withdrawal amounts.
If it was me, the damn ATM machines themselves would start coming up missing.

This is why I have no savings in any banks. No trust whatsoever.

Originally posted by Danbones
IMHO
only good point is now everyone can see whats up
down side:
the PTB now have the new fear tactic
oh Noeeee! this is what will happen if you don't take the haircut...
Crooked legislators will then use that as the excuse to bend over
( like the twenty minute stock market crash pre bailout a while back )

Only some people know what's up and most people don't even know why this is happening or even understand it, and most people will just go along with whatever they are told on the nightly news, that is fed to the news anchors from their higher ups, and so on, until the path leads to the minister of propaganda. Most people are idiotic, and we are screwed.

This is sheer madness by the government !

What do they think will happen when they open the banks again ????

"Please can i with-draw all my savings Mr bank manager ? and before I forget here is a molotov cocktail for all the S**t you have caused me in the last week"

Cyprus will get thrown out of the EU and deemed a rogue state.

Happy days

How does Iceland work again ??

Update

Cypriot leaders are reportedly considering a levy of more than 10% on all bank deposits over 100,000 euros as they attempt to secure an EU bailout. The original terms of the rescue plan for Cyprus proposed by the troika of international lenders would have slapped a levy of up to 9.9% on all bank deposits, na matter how small, in order to raise 8.5bn euros (£7.23bn).

news.sky.com...

The Russian Mafia will love this !

What is happening in Cyprus is that the Banks future are based on projected export of natural gas output which Cyprus has an abundance of. Russia is willing to bail out the banks in return for control of the natural gas the European Union wants the gas. This is why they fight. This is why there is war.

Cyprus and Russia are discussing cooperation in the banking and energy sectors in addition to a loan, and any deal to solve the island's debt crisis should also be in Moscow's interests, the Cypriot finance minister said on Thursday.

www.reuters.com...

reply to post by Shadow Herder



Is that really the reason ???

Do you have any more sources ?

Just interested to find out more on that

reply to post by dominicus


It is about one thing and that thing has to change.

Greed over humans.

Humans need to get over greed. It has enslaved us for far too long.

reply to post by dominicus


Imagine this:

Take half of everyone's money...

But mess with the values and inflation so that their money is worth 2.2 times more.

More money more problems...

Originally posted by judus
reply to post by Shadow Herder

 

Is that really the reason ???

Do you have any more sources ?

Just interested to find out more on that

edit on 22-3-2013 by judus because: (no reason given)

Turkey May Block Use of Natural Gas for Cyprus Bailout
www.cnbc.com...

Cyprus Natural Gas Reserve Could Help Resolve Its Financial Problems
www.valuewalk.com...

Russia Wants Control Over Cyprus Natural Gas Reserves In Exchange For Debt Buy Out
SOURCE

So let me get this right. The EU wanted them to take a 7% to 10% "one off" levy on all accounts in order to qualify to borrow 13 billion. This would allow them to pay the holders of the billion or so of bonds coming due soon, most of which have been bought up by hedge funds at a fraction of their face value in the past months by international hedge funds. So they want to pay to borrow more money, and they want to basically steal money from their own people in order to do it, so that they can solve their problem of borrowing too much.
Why would anyone have a problem with that?

M

Welcome to the European nightmare. And people aren't waking up even this is happening on their own backyard. Theft in broad daylight.

People have to get organized, it's the only way.

reply to post by Shadow Herder


That sounds about right actually. It is usually about resources, money or power. In this case resources would be the likely target which caused this capital war. Russia will play and get what it wants I think. The EU is not strong enough politically to stop international between two independent states. Both nations in this case are doing this outside of the EU and that is what angers the EU so much. Most of the member states don`t trade much with Russia for reasons I don`t understand. Cyprus is suppose to avoid trade with Russia as well but that looks to be changing soon. I bet they might try to kick Cyprus out the EU and hand then over the IMF and let the US Treasury have them. America does not need another debt heavy market depending on access to the US market.