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View Diary: Cyprus does U-turn - expected to accept EU conditions (44 comments)

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  •  Like I said before -- (5+ / 0-)

    giving the savings accounts a haircut is likely to destabilize the system more than any sort of deal would save it.  Never underestimate the financial power of a good mattress.

    "Always in motion is the future." -Yoda

    by Cassiodorus on Fri Mar 22, 2013 at 08:01:21 PM PDT

    •  From Naked Capitalism: (6+ / 0-)
      I wonder how this will work. Capital controls are being implemented, since news reports from Cyprus indicated that residents intended (understandably) to drain accounts once banks reopened. In addition, I can’t see how the current government survives. Indeed, the President and key members of Parliament are likely at physical risk and it’s not hard to imagine that some will find it necessary to leave the country.
      http://www.nakedcapitalism.com/...

      "Always in motion is the future." -Yoda

      by Cassiodorus on Fri Mar 22, 2013 at 08:07:02 PM PDT

      [ Parent ]

      •  From Nigel Farage: (5+ / 0-)
        Recommended by:
        kurious, Losty, isabelle hayes, corvo, ichibon
        So, they are prepared now to do literally anything to try to keep the Euro afloat. And that is why they have now resorted to what can only be described as theft.

        Now they’ve done it in one country, they are quite capable of doing it in Italy, Spain, Portugal, or anywhere else.

        And the message that sends to people who have got savings in banks in those countries – certainly if I was them is “get your money out while you can.”  

        http://rt.com/...

        "Always in motion is the future." -Yoda

        by Cassiodorus on Fri Mar 22, 2013 at 08:19:48 PM PDT

        [ Parent ]

      •  Maybe They Move the Government Itself Out of (6+ / 0-)

        the country.

        We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

        by Gooserock on Fri Mar 22, 2013 at 08:24:36 PM PDT

        [ Parent ]

        •  Bert Brecht, writing privately (2+ / 0-)
          Recommended by:
          ichibon, BusyinCA

          about the aftermath of the East German revolution on 17 June 1953:

          Wäre es da
          Nicht doch einfacher, die Regierung
          Löste das Volk auf und
          Wählte ein anderes?
          Wouldn't it be simpler, though, if
          The Government
          Dissolved the people and
          Elected another?

          Dogs from the street can have all the desirable qualities that one could want from pet dogs. Most adopted stray dogs are usually humble and exceptionally faithful to their owners as if they are grateful for this kindness. -- H.M. Bhumibol Adulyadej

          by corvo on Sat Mar 23, 2013 at 06:42:15 AM PDT

          [ Parent ]

      •  Nobody will cry over their spilled blood (0+ / 0-)

        if it comes to that.

        Dogs from the street can have all the desirable qualities that one could want from pet dogs. Most adopted stray dogs are usually humble and exceptionally faithful to their owners as if they are grateful for this kindness. -- H.M. Bhumibol Adulyadej

        by corvo on Sat Mar 23, 2013 at 06:39:47 AM PDT

        [ Parent ]

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