Tag Archives: Cyprus

Russian warships allowed at ports of Cyprus for humanitarian purposes

Cyprus’ permission for Russian warships to call at the ports of the Mediterranean country was issued as an extension to a previously concluded agreement and not the new one, Cypriot President Nicos Anastasiades said on Thursday. The addition to the … Continue reading

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Cypriot Depositors Are Seeing Their “Fair Share” Redefined

As Americans have found out (too late), fair share means more. You never have a definitive percentage of “fair share” as Cypriot depositors are now seeing. In a new “deal”, the banks will steal take 50% of the deposits over … Continue reading

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It’s Always about the Gold

Although the amount of gold redistributed from Cyprus to Germany/IMF  (as outlined in the article below ) is not large in the grand scheme, it is indicative of the plan being implemented for other countries. Italy should be up next … Continue reading

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Will the Cypriot banking crisis force the European Central Bank into its own version of the U.K.’s Funding for Lending scheme

Will the Cypriot banking crisis force the European Central Bank into its own version of the U.K.’s Funding for Lending scheme? When Cyprus’s two biggest banks failed, and uninsured depositors were forced to take massive losses, there were initial fears … Continue reading

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The Great Cyprus Bank Robbery

The dramatic recent events in Cyprus have highlighted the fundamental weakness in the European banking system and the extreme fragility of fractional reserve banking. Cypriot banks invested heavily in Greek sovereign debt, and last summer’s Greek debt restructuring resulted in … Continue reading

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List Released With 132 Names Who Pulled Cyprus Deposits Ahead Of “Confiscation Day”

With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation “news” was the most unsurprising outcome for the nation’s financial system and was known by virtually everyone on the ground days and weeks in advance: first it was disclosed … Continue reading

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Cyprus President’s Family Transferred Tens Of Millions To London Days Before Deposit Haircuts

A day after former Cypriot President Vassilou was found to be among many elite Cypriot (politicians and businessmen) who had loans written-off by the major (now insolvent) banks; it appears the rot is far fouler than expected. In a somewhat stunning … Continue reading

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Cyprus Parliament President Says “No Future” Under Troika, Calls For “Iceland” Solution

Just last week Yiannakis Omirou, Cypriot House of Representatives President, was calling for the nation to accept it is “time for responsibility” as they progressed towards a final solution; and yet today, as Cyprus’ Famagusta reports, he believes the ‘Troika-imposed’ responsibility will, … Continue reading

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Ben Bernanke Taught Them Well

The following story from Cyprus reminds me of Ben Bernanke testifying before Congress that he would not monetize our debt: That was back on June 3, 2009. The facts are presented below: Projected and Recent US Federal Debt Numbers Gross … Continue reading

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Cyprus banks reopen – but stock exchange will remain closed

Cyprus’s banks reopened their doors on Thursday, to limited queues, amid strict controls to stop people withdrawing all their savings and triggering a catastrophic bank run. The Cyprus stock exchange, however, said it would remain closed for the day, less … Continue reading

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‘Troika Go Home’: angry students protest Cyprus bailout

From YouTube: Answering a call put out on social networking site Facebook, thousands of young people in Cyprus took to the streets to protest against the bailout accepted the government. Marching through Nicosia, the banners clearly show what they think … Continue reading

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CYPRUS BANKS TO REMAIN CLOSED THROUGH MARCH 27: CENTRAL BANK

We thought it useful to consider Cyprus in relation to the longest bank closures in history. Cyprus has now shutdown its banking system longer than Argentina, Ecuador, and Uruguay and as far as President Anastasiades comments that capital controls are temporary – … Continue reading

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If Cyprus Is Fixed, Why Are the Banks Still Closed?

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Cyprus: That’s The Way To Do It

Cyprus is fixed. Again. Like Greece, Italy, Portugal, Ireland, Spain and New Zealand. I wondered over the weekend how the Cypriot government would pass any deal brokered to solve their bankruptcy. Now we know: German Finance Minister Wolfgang Schaeuble said … Continue reading

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Russia: Remove All Deposits from EU Institutions

(NewsBote.de)  24-March-2013 — Russian diplomats reported that the Russian Foreign Ministry said in a memo to all embassies, and  warned [Russians] to leave no more money in Western banks. Apparently, the Kremlin is afraid of the “greatest robbery of private … Continue reading

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