YES, CYPRUS AGAIN, IMPORTANT INFO to lose 40 per cent of GDP

They are organizing the death of every country... just watch and see!

http://rt.com/op-edge/cyprus-bailout-talks-anastasiades-754/

Cyprus to lose 40 per cent of GDP by accepting bailout terms’
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Published time: March 24, 2013 16:38
Thousands of bank employees protest outside the Finance Ministry in Nicosia March 23, 2013. (Reuters/Yannis Behrakis)
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Banking, Crisis, EU, Economy

Cyprus won’t be able to recover from the blow it’ll suffer if agrees to all of the troika’s “unprecedented” bailout terms, Cypriot economy professor, Andreas Theophanous, said an exclusive interview with RT.

Cypriot president, Nicos Anastasiades, is holding talks with the troika (EU, ECB, IMF) in the last attempt to secure €10 billion, which will save the debt-hit Mediterranean island from bankruptcy.

Under the latest plan, a one-time levy of 20 per cent would be placed on uninsured deposits of more than €100,000 at the Bank of Cyprus, with a separate tax of 4 per cent assessed on uninsured deposits of more than €100,000 at all other banks in the country.

A professor of Political Economy at the University of Nicosia and the president of the Cyprus Center for European and International Affairs, Andreas Theophanous, believes that the shock therapy implemented by the EU in Cyprus is the wrong solution as it’ll only worsen the economic situation in the country.

http://www.guardian.co.uk/world/2013/mar/25/cyprus-bailout-deal-eu-closes-bank

Cyprus bailout deal with EU closes bank and seizes large deposits

Draconian terms aimed at keeping Cyprus in eurozone include closure of second-largest bank and big losses for wealthy savers


Ian Traynor, Josephine Moulds, Miriam Elder in Limassol and Howard Amos in Moscow
guardian.co.uk, Monday 25 March 2013 11.12 EDT

Link to video: Cyprus agrees bailout with eurozone ministers

European leaders reached an agreement with Cyprus early on Monday morning that closes down the island's second-largest bank and inflicts huge losses on wealthy savers.

Those with deposits of less than €100,000 (£85,000) will be spared, but those with more than €100,000 – many of them Russian – will lose billions of euros under draconian terms aimed at preventing the Mediterranean tax haven becoming the first country forced out of the single currency.

The deal is expected to wreak lasting damage on the Cypriot economy, which has grown reliant on offshore banking and Russian money. Analysts said Cyprus could see its economy contract by 10% or more in the years ahead.

http://rense.com/general95/cyup.html

SNIPPET MIDWAY:::

Expect much worse times ahead. Eurocrats assure it. Headlines explained it. The Financial Times said "EU ministers approve Cyprus bailout deal."

Lasting damage was done. Cypriot restructuring assures Eurocrats will provide a $10 billion euro bailout. Doing so leaves Cypriot public debt sustainability and its economy unaddressed.

Cypriot troubles matter. The genie's out of the bottle. What Cypriots face can spread anywhere. Savings accounts aren't safe. Bank runs may follow.

Commerzbank chief economist Jorg Kramer suggested "a one-time property tax levy" for Italy. He also proposed a 15% tax on financial assets.

Britain's Independence party leader Nigel Farage said Eurocrats "crossed a line."

"Even I didn’t think that they would stoop to actually stealing money from people’s bank accounts."

"There is going to be a big flight of money and that flight of money won’t just be from Cyprus. It will be from the other eurozone countries, too."

"There are 750,000 British people who own properties, or who live, many of them in retirement, down in Spain."

"Now that we see the EU is prepared to resort to anything to keep alive their failing euro project, our advice to expats living down in the Mediterranean must be, 'Get your money out of there while you’ve still got a chance.' "

The Prodigal Greek listed major legislative provisions. Here's what a cash economy looks like, it said:



"Restrictions in daily withdrawals

Ban on premature termination of time savings deposits

Compulsory renewal of all time savings deposits upon maturity

Conversion of current accounts to time deposits

Ban or restrictions on non cash transactions

Restrictions on use of debit, credit or prepaid debit cards

Ban or restriction on cashing in checks

Restrictions on domestic interbank transfers or transfers within the same bank

Restrictions on the interactions/transactions of the public with credit institutions

Restrictions on movements of capital, payments, transfers

Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety"

Laiki Bank will close. It's Cyprus' second largest and most troubled.

Its 4.2 billion euro deposits over 100,000 euros go into a bad bank. Perhaps they'll be entirely lost. Laiki's junior and senior bondholders are impacted. They face stiff haircuts. They may be wiped out. MORE@LINK

http://intellihub.com/2013/03/26/cyprus-bank-chair-resigns-as-world-banking-cartel-plans-hit/


Cyprus Bank Chair Resigns as World Banking Cartel Plans Hit


OpEd

A major cartel style hit (banking scheme) is ready to go as the European Central Bank, European Commission and the International Monetary Fund are big players in the world banking realm.
NICOSIA, CYPRUS - MARCH 26: Woman uses an ATM machine in Bank Of Cypruson on March 26, in Nicosia, Cyprus. After days of negotiation, Eurozone finance ministers have agreed terms for a 10 billion euro bailout deal, which aims to prevent the collapse of the Cypriot economy and ensure that Cyprus remain in the Eurozone. The agreement, which has been described by Cypriot politicians as 'painful,' will see large bank account holders suffer big losses. (Photo by Milos Bicanski/Getty Images)

NICOSIA, CYPRUS – MARCH 26: Woman uses an ATM machine in Bank Of Cypruson on March 26, in Nicosia, Cyprus. After days of negotiation, Eurozone finance ministers have agreed terms for a 10 billion euro bailout deal, which aims to prevent the collapse of the Cypriot economy and ensure that Cyprus remain in the Eurozone. The agreement, which has been described by Cypriot politicians as ‘painful,’ will see large bank account holders suffer big losses. (Photo by Milos Bicanski/Getty Images)

by Shepard Ambellas
Intellihub.com
March 25, 2013

NICOSIA — Tuesday, Antreas Artemis, the chairman of Cyprus Bank (the largest bank in Cyprus) resigned swiftly today as he claims authorities essentially strong-armed him and his board while planning to hit big depositors hard in what some would say is a major world banking maneuver toward eventual one world domination.

MORE@LINK

Benjamin Fulford keeps pounding on the statement that, "it's only a few dozen old men sold out to Lucifer who are causing this. Why not the world just band together and take them out?"

Mr. Fulford has a valid point however he isn't seeing the spiritual side of the thing. Satan has blinded most of the world to his agenda. Try explaining it to most folks and you'll get that "dear in the headlights" look 95% of the time. Blinded!

thou shalt not murder

Yup, agreed blinded by the light from being in the darkness.

Maybe we need Deer Whistles? ( car )

Cyprus finalizes capital controls to avoid bank run
11:19am EDT

Reuters Today: Cyprus races to stop bank run
Cypriot president hails bailout deal

By Michele Kambas and Costas Pitas

NICOSIA | Wed Mar 27, 2013 12:26pm EDT

(Reuters) - Cyprus is set to restrict the flow of cash from the island and may curb the use of Cypriot credit cards abroad as it tries to avert a run on its banks after agreeing a tough rescue package with international lenders.

A Greek newspaper published details of what officials told Reuters was as yet only a draft government decree to restrict outward payments to documented imports and limit how much people could take abroad in banknotes or spend on credit cards.

With banks due to reopen on Thursday after nearly two weeks, Finance Minister Michael Sarris said capital controls would be "within the realms of reason". But Cypriots, fearing for their savings and angered by the bailout deal struck on Monday in Brussels, are expected to besiege lenders in the morning.

Athens newspaper Kathimerini, citing the government decree, said measures would remain in force for seven days after the banks reopen. Cypriots wanting to send money overseas would have to prove that the transactions meet strict rules laid out by the authorities. The decree allows businesses to pay for imports if they provide officials with the necessary documentation.

The use of credit and debit cards overseas would be restricted to 5,000 euros per month, and individuals travelling abroad could take a maximum of 3,000 euros on each trip. Funds deposited with banks for a fixed term cannot be withdrawn early.

Officials at the Cypriot central bank and finance ministry told Reuters that the newspaper report was based on draft proposals and a final version had yet to be adopted.

Cypriots have taken to the streets of Nicosia in their thousands to protest against a bailout deal that will push their country into an economic slump and cost many their jobs.

Some 500 protesters marched from the EU offices in Nicosia towards the presidential palace on Wednesday. Waving banners and flags, they chanted: "I'll pay nothing; I owe nothing."

European leaders said the deal averted a chaotic national bankruptcy that might have forced Cyprus out of the euro.

"We will look at the best way to limit the possibility of large sums of money leaving, and not imposing punitive conditions on the economy, businesses and individuals," Finance Minister Sarris told local television.

The central bank governor said earlier that "loose" controls would apply temporarily to all banks, which have been shut since final bailout talks got under way in mid-March.

Speaking after meeting government officials, the head of the Cyprus chamber of commerce said: "We have been assured that limitations will not affect transactions within Cyprus at all."

"Where there will be limitations is on what we spend abroad and also on capital outflows," Phidias Pelides told reporters.