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Post by Sir John on Apr 29, 2013 20:10:55 GMT -5
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Post by Swampy on Apr 29, 2013 22:05:35 GMT -5
Let Cyprus default and leave the Eurozone. If it does, the others will follow, and the Euro will die a well-deserved death.
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Post by Sir John on Apr 29, 2013 23:21:04 GMT -5
"If it does, the others will follow, and the Euro will die a well-deserved death."
And that is why the Germans in particular will not, EVER, let it happen. The EU and the Euro is/are really Germany's baby, and she will not let it die!
If the Cyprus government say "get stuffed" Germany etc will come back with a Plan B which will include more money, probably in the form of Bond purchases or somesuch under a different name, or acronym.
German Banks hold a lot of the Cypriot Bonds and if they go Spain etc etc etc could very well go next, and if THAT happens the German banks ARE stuffed! As are many of the banks around teh world.
SJ
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Post by boxcar on Apr 30, 2013 20:13:21 GMT -5
And the powers that be in the EU seem to be saying Cyprus will set the standard of things to come.
Were they to try this on any of the other PIGS, I would predict a run on the banks in Europe. Think of what would happen to the stock markets.
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Post by Sir John on Apr 30, 2013 22:30:26 GMT -5
News reports say that the Cyprus government has agreed to the conditions laid down, and will go ahead with the confiscation/theft.
This should make all EU bank customers feel REALLY good.
SJ
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Post by Swampy on Apr 30, 2013 23:37:30 GMT -5
And others will be encouraged to put their money in Cypriot banks.
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Post by Sir John on May 1, 2013 0:38:29 GMT -5
Firms like 'Swampy's Divorce lawyers' (Lawyers to the Gentry) perhaps?
You could have all your fees paid directly into the business account at Bank of Cyprus, Nicosia branch!
SJ
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