Bank Watch ...

Tarrel · Post by **Tarrel** » 19 Mar 2013, 14:46

frank_begbie wrote:What if you have gold teeth?

Keep your mouth shut!

emordnilap · Post by **emordnilap** » 19 Mar 2013, 15:16

Tarrel wrote:
frank_begbie wrote:What if you have gold teeth?
Keep your mouth shut!

...or you may well end up indentured.

Tarrel · Post by **Tarrel** » 19 Mar 2013, 17:04

MOD sends 1 million Euros cash to Cyprus military personnel in case cash machines and debit cards stop working...

http://www.bbc.co.uk/news/uk-21847013

Looks like the government might be expecting the worst in Cyprus.

RenewableCandy · Post by **RenewableCandy** » 19 Mar 2013, 17:49

Cyprus in a nutshell

UndercoverElephant · Post by **UndercoverElephant** » 19 Mar 2013, 19:07

RenewableCandy wrote:Cyprus in a nutshell

Yes, that's a good summary.

Although I still think that the nature of the problems within the eurozone takes the pressure off elsewhere, albeit temporarily. We're safe in the UK until the situation in Europe has become completely unmanageable, then we're screwed.

Post by **adam2** » 19 Mar 2013, 19:49

Bail out plans, including the confiscation of bank deposits, rejected by the Cypriot parliament.
Not sure what happens next ! Germany gives them the money in any case ? seems a bit ulikely.
Or they dont get the money and go bust, with widespread bank failures.

Little John · Post by **Little John** » 19 Mar 2013, 20:11

adam2 wrote:Bail out plans, including the confiscation of bank deposits, rejected by the Cypriot parliament.
Not sure what happens next ! Germany gives them the money in any case ? seems a bit ulikely.
Or they don't get the money and go bust, with widespread bank failures.

Yes.

If the Troika gives in , then the whole thing descends into unsustainable farce since everybody will know the Troika will buckle when push comes to shove. If they don't give in, Cyprus goes tits up and we get bank runs in a number of other club med countries and who knows where that will end.

RenewableCandy · Post by **RenewableCandy** » 19 Mar 2013, 21:48

Meanwhile, the UK ministry of defence said a plane carrying 1m euros was heading to Cyprus as a contingency measure to provide military personnel and their families with emergency loans.

Why on earth does that remind me of this?..
I've got an idea...

PS_RalphW · Post by **PS_RalphW** » 20 Mar 2013, 07:45

There is a third way. Russia bails them out. Since many of Putin's cronies have ill-gotten gains locked up the banks, he could well come up with the dosh - in return for even less financial oversight of course...

UndercoverElephant · Post by **UndercoverElephant** » 20 Mar 2013, 08:25

http://www.bbc.co.uk/news/business-21844360

Nearly everyone involved in the deal for Cyprus hammered out on Saturday now agrees it was a mistake. What we don't know, yet, is how big.

Looks to me like they're in major trouble. They can't hold the politics together.

Post by **adam2** » 20 Mar 2013, 08:25

RalphW wrote:There is a third way. Russia bails them out. Since many of Putin's cronies have ill-gotten gains locked up the banks, he could well come up with the dosh - in return for even less financial oversight of course...

Certainly possible.
It has been suggested that Russia will bail them out in return for an interest, perhaps a controlling interest in natural gas fields.
More gas under Russian control will not improve our energy security.

TPTB in Russia are able to take a long term view and seem to be attaching considerable importance to acquiring mineral resources, clearly being aware that supplies are declining and prices liable to rise.

Post by **clv101** » 20 Mar 2013, 09:00

UndercoverElephant wrote:Looks to me like they're in major trouble. They can't hold the politics together.

Politics is one thing the UK has going for it - compared to the EU and to the US, the UK political system is fairly orderly and robust.

Tarrel · Post by **Tarrel** » 20 Mar 2013, 10:17

adam2 wrote:
RalphW wrote:There is a third way. Russia bails them out. Since many of Putin's cronies have ill-gotten gains locked up the banks, he could well come up with the dosh - in return for even less financial oversight of course...
Certainly possible.
It has been suggested that Russia will bail them out in return for an interest, perhaps a controlling interest in natural gas fields.
More gas under Russian control will not improve our energy security.

TPTB in Russia are able to take a long term view and seem to be attaching considerable importance to acquiring mineral resources, clearly being aware that supplies are declining and prices liable to rise.

Not to mention the possibility of a strategic foothold in the middle of the Med.

RenewableCandy · Post by **RenewableCandy** » 20 Mar 2013, 11:07

One of the USA news-sites came up with the interesting suggestion of Turkey bailing them out...in exchange for their dropping their claim to the northern 1/2 of the island that Turkey annexed in 1974. A friend of mine still has, in theory, a perfectly good olive-farm that his parents had to leave behind. It would be grossly unfair on people like them: they'd lose their land forever, in return for a bail-out from a situation that wasn't their fault.

And of course, this all presupposes that Turkey actually has any money.

vtsnowedin · Post by **vtsnowedin** » 20 Mar 2013, 11:18

RenewableCandy wrote:And of course, this all presupposes that Turkey actually has any money.

Isn't their fresh off the presses unbacked paper money just as good as our fresh off the presses unbacked paper money?