Thursday, 28 March 2013

Cyprus banks open but with restrictions

At Cyprus banks today there were big queues wanting to take out their allotted 300€ today but they seemed well ordered but the hatred of the Germans was clear. More interesting was the Cyprus government announcement of a full investigation into withdrawals by government and bank officials in the month running up to the crisis. Will anyone be brought to book? I doubt it. The withdrawal restrictions are supposed to last only 7 days. A similar tale was told in Iceland which still has currency restrictions 2 years later! I expect Cyprus to be a similar tale.

Central bank figures however tell the true story. Reuter's report today, "Figures published by the Central Bank of Cyprus on Thursday showed that savers from other euro zone countries withdrew 18 percent of their deposits from the stricken island in February, as talk of a tax on bank accounts gained ground.
Overall private sector bank deposits in Cyprus fell by 2.2 percent to 46.4 billion euros last month, after a similar drop in January."
So officially roughly 2 billion plus Euro left Cyprus banks in the run up to the crisis. Once the bezzle is discovered I expect the true figure to be twice that.

Still it all pales into insignificance compared with the profligate MEPs demands for an extra 11bn € on top of their existing 113 bn € budget.  These guys do not live in the real world. Austerity is for other people not the political elite.

Tomorrow as its Easter I shall tell you tales of Moroccan holidays, untraceable taxi drivers and how some EUKIP bans are so very flexible and others are not.


The journalist said...

Of course we now all this crime is going on, and we are seeing the outcome and consequences, is anyone doing anything about, look at britain all the banks now owed by tax payers, it the same thing, do they get any return, No, the tiny interest they get on savings has just been taken in secret stealth tax people don't realise this,look at all the surcharges on fines, etc. They don't tell the truth anymore, I don't think anyone will get prison, it just does not happen these day's look at MP's exepenses and the new system.

Sally Jacobs said...

Why. indeed this I just can't understand, why in god's name are we letting people get away with all this crime, It frightens me, even a policeman in the local area on a call to an OAP stole her savings from her kitchen unit. It's scary indeed, so much crime at the top and in government.

Pete said...

God if only someone could get it under control they must do time, and time must mean time!

Anonymous said...

Come off it pete,
you know they don't get
prison just look at the
latest MP moved to Hotel jail, they do nothing to those sort of people.

The Reporter said...

of course everywhere we look we have the corrupted "Statist" cooking the books,in the main to satisfy their own mental obsession with material greed, in the UK it would only be a simple "Fool" who denies the authorities and our EU guided police have become so corrupt they "Stink." In all areas of government we see falsification of state documents to cover the tracks of their dirty deeds. so effecitvely, where has all this statisim lead us, we have the worst poverty in england since the time of Queen Victoria, the statists continue to get richer, despite the lies and false claims we are all in it together, laugh, laugh please do.We see the newly introduced state austerity measures taking effect, people unable to afford heating, relying on begging for free food parcels, the highest on record,so what could be the next step of the statist masonic EU masterplan, well perhaps it could look something like this, a state of National Emergency, where the totaliterian bigots take total control of eveything,of course there are those who will deny such a situation could ever come to pass, but there are those of us born in middle england the 60's, who find it hard to gigest britain would turn into the dysfuntional legislative mess we see today, for it must be true then, anything and all is possible, under the total rule of EU and british government statists.We need no further proof or explinations.

Jade Wilson said...

I have no sympathy with them, they
all got to Flush and Greedy.That's
for sure, why pick on Spain it's going on in the UK in the state
sector as well. they are all taking
the P out ordinary working people.

Claus said...

I just lover you politians, telling
everyone not to drink, when recent
leaks prove they have over a five million pound subsidy topay for cheap booze at westminister, they
are so funny.

Karl Strausser said...

I was reading up on the German Finacial Sector today, I see Germany are withdrawing it's gold
deposits from US Banks, they must
be feeling the pinch from the bailouts.

The Journalist. said...

yes, this is reported in some detail, the german plan is to remove 300 tons of Gold from the Federal reserve, they are also reportedly removing german Gold reserves from France, germany has the biggest Gold reserves second to the US, it could indicate some lack of confidence in the current economic situation, and various developments!

Mr Bock said...

of course the situation with foreign aid has got rediculous in it's various disguises by government,why the hell are we giving aid to India,when in fact they have a multi billion pound space programe,we could only dream about,at a time when our own people are starving and old age pensioners and the sick cannot afford heating, the politics of the government are Demented.

ketz said...

And how long does these banks would open. I wish bailout is enough to sustain their needs and further continue their business.

Cyprus banking