Russian PM calls EU approach to Cyprus crisis "absurd"

The idea of the EU supporting the idea of directly taking money from savers is incredibly stupid. Economically that is so dangerous. The EU is at risk of destroying confidence in saving totally. There should be some sackings in the EU and the application of common sense in future.

Germany is in the Club, but appears to want the benefits by pulling the economic power into the centre rather than putting creative resources into the periphery.

Russia`s oligarhs fear for ther stolen money. That`s the entire problem here.

Actualy its not. it is Cyprus that has run out of cash and is in need of bailing out. if they want to accept EU money, then it has to be on EU's terms. it seems to me to be very obvious

Bob, the "periphery" has managed its economy so poorly that it has lost all credibility in well-managed countries like Germany. "Putting creative resources into the periphery" as you call it would mean throwing good money after bad.

The commentary here is all Albanian and what a hoot it is too. These people live off social security and here they are talking of high fiancé on an international level.
Of all those that comment who has worked in this area in the say 10 years? If the answer is no then shut up. If you guys don’t get it then her it is, the US is no longer aiming its defence shield against Russia and now it’s going to be based in Alaska to protect them against North Korea – now that’s a joke.
Boys, the truth; the cash has run out – I told you that 2013 is a very important year.

And here we still have Albos talking about Serbia joining the EU. Open your eyes and see what is happening in Bulgaria.

Like their brothers on the mainland, the Greek Cypriots are proving themselves equally incompetent in managing their fiscal affairs. This calls for drastic measures on the part of the EU, i.e. it is time to pull the plug on the Greek Cypriots, otherwise we will witness a repeat performance of the current fiasco if Serbia ever manages to gain EU membership.

It's easy for the germans to pick on Cyprus. They won't go after London, the world's biggest tax haven, or Luxembourg. Merkel sought to win some easy domestic political points, but it will back fire badly. The banks will be nationalized and Russia will deal with sovereign guarantees, not worthless commercial guarantees. What an amazing own goal by the EU.

Joe

How many times must posters like sj and myself have pointed out the US & EU emperors have no clothes before people like yourself realize that as this scam unfolds people are getting screwed and a bunch of law avoiding scumbag elites run away with inflated assets in tow? Well,now we have reached an economic breaking point.

The precedent with Cyprus has been set within the minds of savers and potential savers in Europe. All has changed.The best hope - for all the people of Europe - is the mother of all bank runs in Cyprus, followed by immediate contagion throughout the Mediterranean.

Go for it, Cyprus: you have nothing to lose but your chains from the 4th Reich.

The idea of the EU supporting the idea of directly taking money from savers is incredibly stupid. Economically that is so dangerous.
(Bob, 21 March 2013 23:54)

But what is the alternative ?! If Cyprus leaves the Euro, all bank deposits in Cyprus are going to be converted to the new Cyprus currency which will instantly loose value against the Euro by a lot more than the 6-10% tax levy that Cypriots rejected. At that point the 6-10% tax levy on deposits would look like a miracle for the Cypriots, but it would be too late to go back.

Leonidas, your comments are dictated no more by economic sense but sheer hate, frustration and impuissance. You should keep 2 main facts in mind: First the US/EU are in the driver seat while tiny Cyprus is the beggar. Secondly Cyprus with 0,2% of the EU's economy NOBODY is scarred of that so-called contagion. Let Cyprus go bally-up and let them run with red flags the whole day if that is what they like.

icj1, the Cypriots show a great deal of immaturity. They don't realize that there is no painless solution. They dilly-dally for days without even contacting the troika. The patience of the EU is running out. If they go bankrupt - by their own fault - they deserve it.

sj, you know very little about world economics and other things.
Cyprus will go back to the EU with her tail between her legs and beg.
Working as a teller at a bank doesn't make you an economist. It's evident by the garbage you write.

Actualy its not. it is Cyprus that has run out of cash and is in need of bailing out. if they want to accept EU money, then it has to be on EU's terms. it seems to me to be very obvious

Russia`s oligarhs fear for ther stolen money. That`s the entire problem here.

Like their brothers on the mainland, the Greek Cypriots are proving themselves equally incompetent in managing their fiscal affairs. This calls for drastic measures on the part of the EU, i.e. it is time to pull the plug on the Greek Cypriots, otherwise we will witness a repeat performance of the current fiasco if Serbia ever manages to gain EU membership.

The idea of the EU supporting the idea of directly taking money from savers is incredibly stupid. Economically that is so dangerous. The EU is at risk of destroying confidence in saving totally. There should be some sackings in the EU and the application of common sense in future.

Germany is in the Club, but appears to want the benefits by pulling the economic power into the centre rather than putting creative resources into the periphery.

The idea of the EU supporting the idea of directly taking money from savers is incredibly stupid. Economically that is so dangerous.
(Bob, 21 March 2013 23:54)

But what is the alternative ?! If Cyprus leaves the Euro, all bank deposits in Cyprus are going to be converted to the new Cyprus currency which will instantly loose value against the Euro by a lot more than the 6-10% tax levy that Cypriots rejected. At that point the 6-10% tax levy on deposits would look like a miracle for the Cypriots, but it would be too late to go back.

The commentary here is all Albanian and what a hoot it is too. These people live off social security and here they are talking of high fiancé on an international level.
Of all those that comment who has worked in this area in the say 10 years? If the answer is no then shut up. If you guys don’t get it then her it is, the US is no longer aiming its defence shield against Russia and now it’s going to be based in Alaska to protect them against North Korea – now that’s a joke.
Boys, the truth; the cash has run out – I told you that 2013 is a very important year.

And here we still have Albos talking about Serbia joining the EU. Open your eyes and see what is happening in Bulgaria.

sj, you know very little about world economics and other things.
Cyprus will go back to the EU with her tail between her legs and beg.
Working as a teller at a bank doesn't make you an economist. It's evident by the garbage you write.

Bob, the "periphery" has managed its economy so poorly that it has lost all credibility in well-managed countries like Germany. "Putting creative resources into the periphery" as you call it would mean throwing good money after bad.

icj1, the Cypriots show a great deal of immaturity. They don't realize that there is no painless solution. They dilly-dally for days without even contacting the troika. The patience of the EU is running out. If they go bankrupt - by their own fault - they deserve it.

Leonidas, your comments are dictated no more by economic sense but sheer hate, frustration and impuissance. You should keep 2 main facts in mind: First the US/EU are in the driver seat while tiny Cyprus is the beggar. Secondly Cyprus with 0,2% of the EU's economy NOBODY is scarred of that so-called contagion. Let Cyprus go bally-up and let them run with red flags the whole day if that is what they like.

It's easy for the germans to pick on Cyprus. They won't go after London, the world's biggest tax haven, or Luxembourg. Merkel sought to win some easy domestic political points, but it will back fire badly. The banks will be nationalized and Russia will deal with sovereign guarantees, not worthless commercial guarantees. What an amazing own goal by the EU.

Joe

How many times must posters like sj and myself have pointed out the US & EU emperors have no clothes before people like yourself realize that as this scam unfolds people are getting screwed and a bunch of law avoiding scumbag elites run away with inflated assets in tow? Well,now we have reached an economic breaking point.

The precedent with Cyprus has been set within the minds of savers and potential savers in Europe. All has changed.The best hope - for all the people of Europe - is the mother of all bank runs in Cyprus, followed by immediate contagion throughout the Mediterranean.

Go for it, Cyprus: you have nothing to lose but your chains from the 4th Reich.