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How will the the Cypriot economic crisis affect both Europe and the Cypriot territorial conflict with Turkey?


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Showing 1-25 of 86 posts in this discussion
Initial post: 28 Mar 2013 07:20:18 GMT
Spin says:
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In reply to an earlier post on 28 Mar 2013 07:57:29 GMT
No one on these boards has enough knowledge to answer your question. That is why Heidegger said "Only a God can save us now".

In reply to an earlier post on 28 Mar 2013 12:22:51 GMT
A god like El Chav...Kin Wrong-un perhaps...maybe The Funty?

Naah! Maybe not a god but a Socialist Wheel Tappers Social Club Committee with Leonid in the Chair.

In reply to an earlier post on 28 Mar 2013 12:56:32 GMT
Spin says

<<I find it astonishing that Cypriot banks are limiting customers access to their own cash>> Why?

You seem astonished easily Spin.

Btw it's not 'cash' but bank deposits.

In reply to an earlier post on 28 Mar 2013 12:58:52 GMT
Spin,

<<...your savings do not belong to you and the bank can do as it pleases with them>> Yep 'the bank' has lost them already.

In reply to an earlier post on 28 Mar 2013 13:00:22 GMT
Spin,

Does this post mean you don't approve of what the EU is doing? Do you have an alternative? If so what is it?

In reply to an earlier post on 28 Mar 2013 13:04:58 GMT
Spin,

a) <<with south Cyprus collapsing the Turkish Cypriots could have an advantage.>>

b) << It seems that Europe, withsuch a prospect, will finally have to attempt to resolve the territorial dispute.>>

Explain why 'b' follows from 'a'.

Posted on 28 Mar 2013 14:02:57 GMT
easytiger says:
Immediately allow Turkey to join the EU, adopt the Euro and then they'll have an economic crisis, then a bailout and both sides will be equal. What is it with the Med and the Euro?

In reply to an earlier post on 28 Mar 2013 14:45:04 GMT
Yep, that's what the EU bosses would say, do you write their policy documents?

In reply to an earlier post on 28 Mar 2013 14:56:38 GMT
easytiger says:
Nope, leave that to Pinky and Perky.

In reply to an earlier post on 28 Mar 2013 15:02:50 GMT
Liar, those boys have a sense of humour.

In reply to an earlier post on 28 Mar 2013 18:12:56 GMT
David Groom says:
Spin,

'I find it astonishing that Cypriot banks are limiting customers access to their own cash. This could set a precedent in the European banking community; your savings do not belong to you and the bank can do as it pleases with them.'

In an attempt to provide a considered and intelligent answer to your question, here's my two pennorth for what it's worth.

In the immediate future, I doubt it will have much impact on Europe in general, since the Cypriot economy is small and it looks unlikely that what is happening there will seriously impact any other economies. For the people of Cyprus, there will be difficulties with money supply and for those with higher sums they will have a much reduced capital to invest, so this latter will most likely help drive the economy into recession. None of this will impact the Eurozone in general.

However, there is a clear impact that could arise at some time in the future. When any other Eurozone economy gets into trouble and needs bailing out (Portugal, Ireland, Greece, Italy, Spain, maybe France) then the slightest whiff of crisis in these countries is likely to drive people with money in banks there to withdraw it fast, in order to avoid any chance of being surcaharged 40% on their savings. It doesn't matter that the IMF says Cyprus was a one-off or if Europe says it won't happen elsewhere, people won't believe that and will see that the only safe choice will be to move their money to safer places. That means that any sign of a crisis will likely precipitate a run on any banks in an affected country, thus making the situation in the crisis country even worse.

If this happens, the impact will be considerable, as it's likely to be led by those with large deposits, and those sorts of people aren't stupid - they will see the danger coming and will get out fast at any hint of problems.

In reply to an earlier post on 28 Mar 2013 18:15:58 GMT
Spin says:
Gordon: when you find your hard earned money being held by a bank and you cannot get paid or pay your bills, you will not call it a "deposit".

In reply to an earlier post on 28 Mar 2013 18:16:54 GMT
Spin says:
Gordon: Such is the superiority and reliability of Capitalism, eh?

In reply to an earlier post on 28 Mar 2013 18:19:26 GMT
Spin says:
easy: that is my point; Turkey has been trying to join the EU for ages but has been refused because of its culture, religion and history (as if European nations had perfect CVs =) Now, with the Cyprus crisis Turkey has a say, but its say will lead to the Islamic world opposing it. Complicated, eh? And dangerous.

In reply to an earlier post on 28 Mar 2013 18:23:58 GMT
Spin says:
David: the reason for Europes troubles is the banks belief that the cash in their reserves was theirs. They made money by handling our money. And in handling our money , they lost it all. Just as a gambler loses his money. So instead of reforming a system dependent on the private enterprises we call "Banks" we gave them more of our money to stabilise a system of profiteering on others hard earned cash.

In reply to an earlier post on 28 Mar 2013 18:29:33 GMT
Last edited by the author on 28 Mar 2013 20:19:08 GMT
The banking crisis is an example of what happens when politicians mess about with regulations that had worked fine for more than half a century. The Cyprus gov let its banking system expand to many times the size of the country's 'real' economy.

To paraphrase Winnie, Capitalism is not perfect but it's better than El Chav's alternative.

In reply to an earlier post on 28 Mar 2013 18:41:43 GMT
Not all banks are insolvent in Cyprus or anywhere else. Howzabout the gov goes for a Capitalist approach: let insolvent banks collapse.

In reply to an earlier post on 28 Mar 2013 18:43:55 GMT
Most of the money these banks lost was what they had borrowed short on the markets to make unsound loans and buy 'toxic' assets.

Posted on 28 Mar 2013 18:47:44 GMT
China could bail them out...and take repayment in natural gas like they do with Venezuela in oil.

Posted on 28 Mar 2013 18:49:22 GMT
Or howzabout Apple buys Cyprus...they are 'good' Capitalists.

In reply to an earlier post on 28 Mar 2013 18:51:02 GMT
Spin says:
Gordon: The Turkish Cypriot banks offered services to the South Cypriots; but of course "North Cyprus" does not officially exist in the European mind, so the offer was refused.

In reply to an earlier post on 28 Mar 2013 18:51:23 GMT
How is capitalism better than communism?....detail please...

In reply to an earlier post on 28 Mar 2013 18:52:40 GMT
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In reply to an earlier post on 28 Mar 2013 18:53:10 GMT
China....China....
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Discussion in:  politics discussion forum
Participants:  12
Total posts:  86
Initial post:  28 Mar 2013
Latest post:  19 Jul 2014

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