Comments on: Why the EU is right on Cyprus http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: keebo http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71679 Thu, 21 Mar 2013 16:04:21 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71679 The criminal pickpocketing of the U.S. saver by the scum at the Fed to line the pockets of the well off in an effort at trickle-down economics is beyond immoral. The commies and other dictators love picking winners and losers and the Fed is no different. Not a lot was said about this in the media but I have started to see more of it. Only by putting those involved in the destruction of the financial well-being of U.S. and world citizens in jail will you see real change.

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By: MediocreFred http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71673 Wed, 20 Mar 2013 22:37:22 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71673 The root of this problem is private ownership of central banks. We (in the US)have gotten rid of private ownership of central banks before, however, our banksters have repeatedly weaseled their way back in with bribes to politicians. Private ownership is a workable system only combined with strict regulation and oversight. It is also helpful to have bankers fearful of breaking the rules. This is presently lacking. When I see the phony posturing of Euro power brokers protecting the banking elite at the expense of their populations is disgusts me. If this power imbalance is politically required to keep the Euro together, it is not worth the cost. Europe’s population can pull the plug on these schemes by withdrawing their savings from the banks. Put savings in gold or open a non-Euro bank account. Eventually this house of cards is doomed.

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By: majkmushrm http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71668 Wed, 20 Mar 2013 14:58:33 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71668 Yeah, this is classic. Search for the guilty, punishment of the innocent, reward of the uninvolved. Precisely how were the small savers in Cyprus involved in the financial shenanigans of the banks? And why should they be the ones to pay for it? The author offers up a lot of dreck but doesn’t answer either of those two questions.

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By: Kovalyonok http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71667 Wed, 20 Mar 2013 11:50:16 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71667 To put it simply, the EU has decided to bail out itself and Cyprus by using someone else money. It’s like putting your hand in someone’s wallet.

That’s some rotten policy covered with long speeches, great phrases that don’t make sense and are aimed at defending itself from negative reactions of the general public.

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By: nealjking http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71664 Wed, 20 Mar 2013 09:17:17 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71664 No way!

– The proposed 6% on small depositors was outrageous! The EU-required guarantee on up to 100,000 EUR has to be sustained, not tossed overboard; or else the whole concept of banking becomes suspect, not only in Cyprus, but also in Spain and Italy. For the little people who live in Cyprus, it would be better if the banks were just shut down than to accept this deal: At least they would get their money back.

– For deposits of more than 100,000 EUR: They can be taxed to the necessary amount. There was NEVER any guarantee for accounts bigger than that anyway, so the “moral hazard” issue is fully applicable. And if you want to get the money from the rich Russian oligarchs, this is where it will be.

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By: judester http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71646 Tue, 19 Mar 2013 21:56:46 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71646 Why the shock? Our government took the Social Security funds and spent them then told us that SS is an entitlement which is bogus because I’ve been paying into the SS all my life. The reason the SS is broke is because the government spent the money.

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By: seriouslyzzzzz http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71643 Tue, 19 Mar 2013 21:01:33 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71643 Seriously? You argue that it is ok to steal a percentage of every single depositor’s savings because some of the banks hold large sums of money deposited by wealthy Russians who may have deposited the funds there to hide from Russian authorities. Then you note that one such wealthy Russian businessman owns a 10% equity stake in the bank. I don’t think there is anything wrong with wealthy Russians moving their assets out of Russia to escape Russian taxation (and the possible confiscation by a corrupt Putin led government), but even if you do believe these people are doing something wrong this plan makes no sense. The first people that should get wiped out when a company fails is the equity holders (including the wealthy Russian you name), then in the case of banks unsecured creditors and bond holders, then maybe depositors. This plan gets it backwards, and allows the equity holders who were ultimately responsible for selecting the failed management to stay in place and punishes the innocent savers instead. If you think Mr. Rybolovlev did something wrong to move his money to Cyprus and invest in a bank, why are you rewarding him for his conduct and excusing his inept stewardship?

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By: frek149kie http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71642 Tue, 19 Mar 2013 20:55:08 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71642 A complete distortion. The EU is PRECISELY the reason these
measures came about. The institutions lending know full well they may never get paid back with the economic climate these countries foster. So their asking for collateral. Just like a secured loan. If this thing goes south, it’ll be cold day in hades before another banking group risks capitol this way. There are plenty of places left on the planet to risk investment without this kind of rancor. These banks would do better buying Chinese factorys.

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By: frek149kie http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71641 Tue, 19 Mar 2013 20:55:08 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71641 A complete distortion. The EU is PRECISELY the reason these
measures came about. The institutions lending know full well they may never get paid back with the economic climate these countries foster. So their asking for collateral. Just like a secured loan. If this thing goes south, it’ll be cold day in hades before another banking group risks capitol this way. There are plenty of places left on the planet to risk investment without this kind of rancor. These banks would do better buying Chinese factorys.

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By: frek149kie http://blogs.reuters.com/great-debate/2013/03/18/why-the-eu-is-right-on-cyprus/#comment-71640 Tue, 19 Mar 2013 20:55:08 +0000 http://blogs.reuters.com/great-debate/?p=19002#comment-71640 A complete distortion. The EU is PRECISELY the reason these
measures came about. The institutions lending know full well they may never get paid back with the economic climate these countries foster. So their asking for collateral. Just like a secured loan. If this thing goes south, it’ll be cold day in hades before another banking group risks capitol this way. There are plenty of places left on the planet to risk investment without this kind of rancor. These banks would do better buying Chinese factorys.

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