CYPRUS PRESIDENT: Nation Faces Total Financial Collapse And Euro Exit Without Bailout - page 2

thenews · 2013-03-17T08:05:10.0000000

In the early hours of Saturday, Cyprus agreed to a "bailout" with the EU and IMF that is very controversial because it imposes an immediate one-time tax on everyone with money in a Cypriot bank before banks reopen on Tuesday (Monday is a holiday). The deal still needs to be passed by Parliament and that's not a sure thing. Ekathimerini has this report: The Cypriot government is now sweating over a possible rejection by the islands parliament of the shocking set of measures imposed on Nicosia for the eurozone to bail its economy out of a likely default, announced in the early hours of Saturday. The Cypriot government is preparing the bill to be tabled in Parliament probably on Sunday in an emergency session, as everything will have to be voted by Monday night for Cypriot banks to open on Tuesday. The stakes are incredibly high. Here's a statement from Cypriot President Nicos Anastasiades warning of total financial collapse and euro exit if there's no deal (via @dsquareddigest). read more ...

New comment

Linuxser 2013.03.18 01:10 #11

Wrong eggs in the wrong basket.

To buy shares of weapons manufacturing companies looks a solid alternative.

18 Mar: New SIPRI data on arms transfers - China replaces UK as world’s fifth largest arms exporter .......... Overall, the volume of international transfers of major conventional weapons grew by 17 per cent between 2003–2007 and 2008–12...........

Eur/usd [Trader's Handbook] Draft articles, dekac's commentaries

1 2

New comment