Monday, 25 March 2013

Cyprus saved - glory hallelujah and in Exeter...

That is if you have less than 100k euro deposits with either of the two big Cyprus banks. One idiot UK Labour MEP chairperson of some EU committee does not know the difference between, equity, bonds and deposits. Come to think of it that is how Brussels thinks as well. That is going native in a big way.

They are already imposing draconian currency controls on those exiting Greek Cyprus, searching luggage and confiscating all your currency over 10k €. Thats what used to happen in the Soviet bloc but then the EU is built on the old USSR plan as is Farage's EUKIP. It also happened in the UK post war until Thatcher abolished them in 1979. Such controls have no place in a free society but will obviously fit well in the EU.

Cyprus is not the only country in Europe with an 'oversized' banking sector the UK and Luxembourg are similarly over endowed. The Eurocrats stash their cash in Luxembourg so no haircuts there but the UK is a sitting exceptional duck. Be afraid, be very afraid, its cash under the mattress time.

Credit will dry up in Cyprus, the economy will shrink by 5%+ per annum and unemployment rise, an EU speciality. If you want to go there go to the North!

Exeter was a glorious success. Best since Nuremberg.

Its like the old Moscow May parade where you your status depends on how close to the leader you were stood. Poor Mr Batten seems to bout of favour but Mr Nattrass may be rehabilated soon. But Nigel is such a tease and so fickle! I expect many changes before May 2014. Surely one of the Farage Youth will be on the slate.


The Journalist said...

Of course the problems you highlight with cyprus are only some of the issues, look at where much of the countirs wealth has gone for instance,the situation is indeed dire for cyprus there is no question.But what a situation,they have the water in the North the gas in the South,and now a deifict with no more bail out prospect. Greece, much of the initail problem was brought about by overpaid lawyers and government state gold circles.I fully understood during the post mortum, many of those fancy judges, and laywers, didn't pay any tax.Of course in the UK we have the same problem, with the poor and working classes overtaxed, while many at the top injoy lucrative loopholes, such a stituation as Greece or Cyprus is not beyond the scope of any other EU country, including the UK if the right combination of circumstances come together.

Eric Edmond said...

Lawyers are parasites but when the host dies the parasite dies as well

ALAN WOOD said...

Heard today a sensible commentator who said "The West is finished as China rises".
When China realised that wealth comes from incentivising your population and throwing cheap labour into the mix you get to the top of the financial heap.
When your competition (the West) cannot compete they sell the family silver (privatisation) and act like Grandad (Germany) giving the indulgent kids (Cyprus etc) loans to bail them out.
As you always said Eric, the EURO will fail, and the EU may go with it.
It will be a decline marked by Unions who try to sustain the minimum wage (except for our competitors in Asia), energy shortfalls thanks to the ludicrous "warmists" who will shut down our few coal-fired generators whilst India keeps theirs, water shortages because our population keeps growing thanks to immigrant birthrates, and worldwide food shortages as the world population grows but we cannot compete for the food that is grown.
It's a frightening scenario that has taken decades to come to fruition thanks to the worthless politicians and bankers here, in Europe and the USA.
Where is the far-sighted group of people capable of digging us out of this hole ?

The Reporter said...

There's some merit in what he said, but in saying that, China was in fact once a very wealthy civilisation without doubt, as history shows us, it just fell on hard times. Or course in china people still have no rights at the bottom of the pile, and I find it,in practice still a totaliterian police state, in relation to the way it controls it's people, (No workers Rights) Of course what you say about our countries resources is true, but the fact reamins that those on state payroll are not effected by the hardships and increased prices this causes ordinary british people to suffer, so I don't think relalistically you can expect the government to dig us out of the whole,the police have little interest to do anything either, they are making to much money arresting immigrants, for them they are a job creation scheme. Effectively there will be no change, unless we have a radical change of government.You have to face the facts, a minority of people in this country are becomming very rich from illegal immigration policy, many in the government.

Former CC said...

Journalist, you should sut up, I worked for CC and developed a bad back, I retired early on two thirds pension and 70,000 severance pay, I was lucky, I got another job the year after as a security gard,secondly we do not claim means tested benefits only DLA, we are allowed to do this, with my second job I will be getting another pension, so I get three pensions with my OAP state pension at 65, it is important you should note we are doing nothing illegal, this is common practice in state jobs, it's got nothing to do with you anyway.