Eurogroup and IMF agree on Cyprus bailout

Sat Mar 16, 2013 10:35 am » by **WillEase666**

Published on Mar 16, 2013

http://www.euronews.com/ After ten hours of talks the deal was struck!
Eurozone finance ministers and IMF chief Christine Lagarde agreed to a ten billion euro bailout for Cyprus - seven billion short of what the island nation was asking for.

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Sat Mar 16, 2013 11:01 am » by **WillEase666**

Despite its limited geographical size and small population of around 800,000 people, Cyprus’ geographical and political significance in the area has always been disproportionate. The reason for this has been the island’s strategic position in the east Mediterranean.
Cyprus lies on an axis of movement, both north-south and east-west. It stands at the crossroads of three continents, Europe, Asia and Africa. It is, therefore, hardly surprising that throughout history the major powers in the region have taken an interest in controlling and settling the island. Its strategic position has always ensured that Cyprus has played a key role in history, but it has also resulted in the island becoming a victim of others’ power politics.

Sat Mar 16, 2013 11:07 am » by **Slith**

You're a little taken with this little island Will. You should retire there. It's a paradise

germany-to-cyprus-terms-of-surrender-not-good-enough-t83126.html

Sat Mar 16, 2013 11:45 am » by **Svaha**

This has nothing to do with the strategic position of Cyprus, but with European banks and the never ending bailouts.

Sat Mar 16, 2013 11:55 am » by **Svaha**

What surprises me is that so many people are not informed, after the 'deal' a run on the banks started, but internet banking is stopped, most banks are closed and customers can only withdraw small amounts of cash.

I don't understand why the people didn't see this one coming, 'they're' going for the money of the savers now AND for the money and assets of the people.

Sat Mar 16, 2013 11:59 am » by **WillEase666**

Svaha wrote:This has nothing to do with the strategic position of Cyprus, but with European banks and the never ending bailouts.

You are not seeing the bigger picture. If Cyprus wasn't of strategic importance, they would have never gotten a bailout...especially from Europe. That's also why the Russians were so interested in helping the little island.

Sat Mar 16, 2013 12:02 pm » by **WillEase666**

Published on Jan 9, 2013

Cyprus has been bailed out by the European Union. What does Germany plan to do with Cyprus?

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Sat Mar 16, 2013 12:19 pm » by **Svaha**

WillEase666 wrote:
Svaha wrote:This has nothing to do with the strategic position of Cyprus, but with European banks and the never ending bailouts.

You are not seeing the bigger picture. If Cyprus wasn't of strategic importance, they would have never gotten a bailout...especially from Europe. That's also why the Russians were so interested in helping the little island.

Imo you don't see the bigger picture, it's all about money.
Russia is interested because a lot of 'Russian' money is whitewashed here, Europe is interested because, even though Cyprus itself has a very small economy, European banks are involved here, and if this deal was not made, the rest would fall like a house of cards.
Anywayz, this will only buy some time, makes the problem worse.

Sat Mar 16, 2013 12:32 pm » by **Perry LaGuardia**

I absolutely love cyprus, the birth place of Aphrodite, a beautiful Island..I have been to the Greek south and the Turkish North numerous times, I stopped visiting the Greek part of the Island about 7 years ago when there seemed to be a massive influx of Pontic Greek/Russian immigrants into the Pafos Which is a massive tourist area and a world heritage town , shit dude it got really rough around there...I have kept track of the island though and have noticed that an awful lot of Russian money is passing through the island and a great deal of the money is passing through the town of pafos...The Russian Bratva is rife and now owns a lot of the small businesses restaurants and bars.....Im sure that Noentry would have plenty to add as it is his ancestral island...

Sat Mar 16, 2013 1:38 pm » by **Perronick**

Looks like a corralito to me.

10% off of all bank deposits, even those <100k :!: