Cyprus parliament rejects bank levy EU threatens bank’s may never re-open

http://countdowntozerotime.org/2013/03/20/cyprus-parliament-rejects-bank-levy-eu-threatens-banks-may-never-re-open/

Cyprus parliament rejects bank levy EU threatens bank’s may never re-open

The Cypriot parliament has rejected a critical draft Bill that would have seized part of people’s bank deposits in order to qualify for a vital international bailout.

The bill, which had been amended on Tuesday morning to shield small deposit holders from the deposit tax, was rejected with 36 votes against, 19 abstentions and zero votes in favour. One deputy was absent.

Hundreds of protesters outside parliament cheered in jubilation and sang the national anthem when they heard the bill had not passed.

People queue to use cash machines at Laiki Bank in Nicosia, Cyprus (© AP)

Cyprus will now have to come up with an alternative plan to raise the money.

If it does not do so, it will not qualify for external rescue loans, the country’s banks face collapse and the country could go bankrupt.

Cyprus banks ‘may never reopen’

German finance minister Wolfgang Schaeuble fired a warning shot over Cyprus' economic status (© AP/Markus Schreiber)

German finance minister Wolfgang Schaeuble fired a warning shot over Cyprus’ economic status (AP/Markus Schreiber)

Germany’s finance minister has warned that it is unclear whether the banks in Cyprus will ever be able to open again.

Banks in Cyprus have been shut since Saturday to avoid a run while the tiny Mediterranean country tries to negotiate a rescue for its economy.

Wolfgang Schaeuble said two of Cyprus’s big banks are being propped up solely by emergency liquidity from the European Central Bank that is contingent on all sides agreeing on a rescue package.

“Someone needs to explain this to the Cypriots,” Mr Schaeuble told German public television ZDF.

Politicians in Cyprus have voted to reject a bailout deal that would have seized up to 10% of bank deposits to prevent a collapse of the country’s banks.

GERMANY and the EU has now resorted to extortion basically they are saying give us the money or we close your banks and the country goes completely bankrupt overnight ,loose a little or loose everything. This is Financial Blackmail but is this not what we have all come to expect from politicians who are nothing more than paid actor shill’s of the real puppet master bankster NWO illuminate luciferian’s behind the scenes.



All the world’s a stage, and all the men and women merely actors: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.

http://usawatchdog.com/very-close-to-pan-global-financial-collapse-gregory-mannarino/

Very Close to Pan-Global Financial Collapse-Gregory Mannarino
20 March 2013 22 Comments

Greg MannarinoBy Greg Hunter’s USAWatchdog.com

Financial Analyst Gregory Mannarino says the banking crisis in Cyprus is a signal of what is coming to the rest of the world. Mannarino says, “People are now going to start losing faith in these institutions. This cannot stand, and we may be very, very close to the pan-global financial collapse that I believe is coming.” Mannarino contends, “People do not understand that the debt owed by their nation is their debt. They own it. They are going to force people to pay one way or another. Haircuts are coming for everyone.” Mannarino contends, “There is a debt war going on right now.” Think what is happening in Cyprus can’t happen in the U.S? More than $10.8 trillion in deposits are insured by the FDIC with a $33 billion insurance fund. Mannarino says, “That’s pretty scary,” and the best way to protect yourself is to “get into real assets . . . there would be no problem if people in Cyprus would have heeded that advice.” Join Greg Hunter as he goes One-on-One with Gregory Mannarino of TradersChoice.net.