All The Conditions For A Total Disaster Are In Place

[Matthew]

I read this interesting article called, "All The Conditions For A Total Disaster Are In Place" which was posted 3/18/13

Cyprus: The Next Blunder
The Cyprus bailout package contains a tax on bank deposits. This column argues that the tax is a deeply dangerous policy that creates a new situation, more perilous than ever. It is a radical change that potentially undermines a perfectly reasonable deposit guarantee and the euro itself. Historians will one day explore the dark political motives behind this move. Meanwhile, we can only hope that the bad equilibrium that has just been created will not be chosen by anguished depositors in Spain and Italy.

See link below for full story:

http://www.zerohedge.com/news/2013-03-1 ... -are-place

[StephenS]

The story that appears in not a few papers is that the insistence on this savings tax measure was specifically at the behest of Frau Angela Merkel. This would be another point of tension between Northern and Southern Europe.

For Europe this previously unheard of move is a potentially dangerous precedent. In previous situations bank bond and shareholders have borne the cost of avoiding collapse. Account holders have had their monies guaranteed up to 100,000 euros. Confidence among depositors and savers across the EU will be taking a big hit. As for Cyprus a run on the banks when they re-open will be painful for their economy and future potential large scale investors will start elsewhere to park their cash.

So just what is your game, Frau Merkel? Additionally the Russians have threatened the EU with the withdrawal of Russian funding for Cyprus. Hitherto Cyprus has been an attractive investment centre for tax avoiding Russian oligarchs. The Times, 18 March, 2013.

[Maria]

CLEAN MONDAY is supposed to be one of the holiest days of the year as we put aside all earthly cares and prepare to receive the Risen Lord at Pascha, May 5, 2013.

Has anyone noticed that all of the banks in Cyprus have been closed on CLEAN MONDAY, thus causing panic in the people, and most likely a spiritual paralysis and inability to observe Clean Monday? In addition, these banks will be closed through Thursday, creating severe hardships for the poor who will not be able to access any funds for food and medical care.

This was probably diabolically planned to coincide with Clean Monday, just like the NATO bombing of Serbia started on Pascha back in the late 1990's.

[jgress]

I don't know about Cyprus, but Clean Monday is a holiday in Greece, so one would expect banks to be closed. As to why they're closed through the rest of the week, I don't know.

And if Clean Monday is so holy, why are we all on here?

[StephenS]

[quote="jgress"]I don't know about Cyprus, but Clean Monday is a holiday in Greece, so one would expect banks to be closed. As to why they're closed through the rest of the week, I don't know. unquote

It is a bank holiday and originally the president had hoped to get the measure through before banks opened on Tuesday. Now there appears to be some political manoeuvres ongoing and talk of possibly a little easing of the terms for the smallest balance holders. Present proposals are that on Wednesday morning accounts below 100,000 euros will have 3 - 6.9 per cent deducted and those above this sum will see 12.5 per cent deducted from their accounts. In return account holders will be given shares equivalent in nominal value from their bank. This is the latest from The Times and is a departure from the original proposed 'haircut' rates of 6.9 and 9.9 per cent. There are going to be some very unhappy Russian oligarchs. And a probable run on the banks come Thursday.

[Barbara]

You know, the Russian presence on Greek Cyprus is really alarming.
I am mentioning as an aside here that I think it's a VERY dangerous place.

Remember that the coordinator/funder of the notorious Russian espionage group arrested in New York
were beholden to this man, who escaped like wildfire to one of the cities, I think Limassol, where the Russian presence is strong
Then the hotel, with a Russian receptionist, let him slip right through his house arrest to vanish off to ... Moscow, likely.
Never seen again.

That place is trouble....

Nonetheless, I am sorry for this bank disaster.

Angela Merkel is full of trouble.

[Matthew]

Angela Merkel is simply a servant who is doing what she is told by the people who really hold the power. She is an elected puppet. The reason why this kind of thing goes on and on is because the majority populations of the world have not figured out that the real trouble makers and warmongers and financial rapists are hiding behind a screen of elected officials who supposedly are the only real responsible decision-makers. However, I believe that we need not worry about such things, but rather focus on building up the Holy Church and if God wills for their to be a period of reprieve on Earth, then the True Orthodox Church's global revival is the answer to these great problems that we are facing.