Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
only speculation though kieth,like many ukip type of supporters ,they are frightend of mass imigration from eastern europe.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Russia has turned down a request from Cyprus for a bailout.
The Cypriot banks shall remain closed till next Tuesday, and the Cypriot state is officially and technically bankrupt.
Transfers of money from Cypriot banks will be regulated by a new emergency law to prevent large amounts of money leaving the bank accounts.
My guess is: Israel might bail out Cyprus.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
we can all guess alexander
ALL POSTS ARE MY OWN PERSONAL VIEWS
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i thought that talks were still ongoing between cyprus and russia?
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Sovereign default is not as dire as people think. Brazil has done it 10 times. Mexico last went bust in 1982 and look at them now. In my lifetime there have been dozens of defaults and those countries are still there.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
I caught a bit about all of this last night on Russia Today*, among those involved in the discussion was one Michael Burke**
It seems it all come down to..."the preservation of shareholders and bond-holders"
*
http://rt.com/shows/crosstalk/cyprus-bailout-financial-markets-497/
**
http://www.guardian.co.uk/commentisfree/2013/mar/17/savers-horror-troika-raid-cyprusIgnorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
oh dear
news said today russia had said no
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
One of those commenting on the RT 'Cross-Talk' programme, which you are all still watching...no doubt, makes mention of what is happening in NZ with what they call the "Open bank resolution".
The outline of the scheme is in the first link below, along with access to the text of the proposal.
http://www.rbnz.govt.nz/news/2011/4335384.html
Here is a Q&A page to help us all get a handle on the thing...
http://www.rbnz.govt.nz/finstab/banking/4368385.htmlIgnorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Basically, the NZ OBR requires that;-
-the investors in a bank stand to lose when said bank fails
-a conservative proportion of the money held in accounts at the bank are frozen and may be used to settle the bank's liabilities
-no portion of the money on deposit is guaranteed by the State except that portion that is initially not frozen and any further account money that is later unfrozen. (There is a link within the Q&A to the statement from the Government as to why deposit insurance is not to be introduced.)
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
there seems to be a big difference between the problems of us and cyprus despite what george says.
http://www.guardian.co.uk/commentisfree/2013/mar/20/cyprus-problems-austerity-ukKeith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
trillion differences so i heard
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Something doesn't add up:
If Cyprus lost 4.5 billion euro in the Greece exposure, but needs a 17 billion euro bailout, that's over 12 billion euro unaccounted for. What happened to all the money that was deposited in Cypriot banks?
If it all, or mostly, went on toxic investments, then something is very wrong indeed.
This could spread all through southern Europe, and on further north, and also to Britain.
Have all banks invested in toxic?
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
oh alexander please,,,,,,,,,
ALL POSTS ARE MY OWN PERSONAL VIEWS
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
the russians are playing this cagey, they want access to the offshore gas reserves and a warm water port for their navy.
between 35 and 50% of money in cypriot banks is russian,
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
It cant go on to long
ALL POSTS ARE MY OWN PERSONAL VIEWS
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
interesting article here on how other countries have coped in similar situations that cyprus find themselves in.
http://www.bbc.co.uk/news/business-21876149Guest 698- Registered: 28 May 2010
- Posts: 8,664
Yes Howard, my point entirely, post 45.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
Well they have history to beware of from other countries
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 698- Registered: 28 May 2010
- Posts: 8,664
And history to encourage them too. Brazil's last sovereign default was in 1990. Now their economy is the powerhouse of South America.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
OK Peter, Brazil is the third largest country in the world.
The Amazon Forest, rivers generating electricity with the largest turbines in the world, plantations generally bigger even than my back garden, minerals and ore of various sorts, industry, fishing fleets.
Now compare that to Cyprus' economy!