The news in Cyprus shows the crisis in an unusual light, the angle is all wrong but the deal itself is accurate enough. If you know anything about savers accounts then you will be agreeing all the way through what Anton Goryunov reports this week from Nicosia. Some of them must feel hemmed in right now so lets take a look why this is a just what has actually happened.
Cyprus Mitsubishi Pajero (credit: CyprusDriving)
The deal made is Euroland this week was discussed and quickly resolved as a solution to cure the debt crisis in Cyprus. The deal came with a couple of caveats one of them being in order to get the cash they would have to pay cash. The obvious place is go directly into peoples bank accounts. Germany noticed some trends which people in Cyprus were enjoying and to compensate Berlin and Brussels under pressure from Cyprus and the difficult situation they are in as EU members decided to intervene by asking Cyprus banks to make the accounts payback the interest as a way of paying into the European Union and keep the Euro currency in good standing with the European Union.
English: Picturised old traditional houses in Nicosia old quarters Nicosia Republic of Cyprus 5.jpg (Photo credit: Wikipedia)
Cyprus is a melting pot of people, anyone who has anything have made decisions to either live or do business there, its been a hub for quite some time. Unfortunately a lot of people there are stuck for jobs and this is making it difficult to keep up the the one currency Euro. The news reports have singled out all kids of countries with wealth who could help Cyprus maintain there position to the EU economy. The Russians who have Cypriot bank accounts are feeling the pinch some of them even suspect foal play and say that the world war II defeat maybe something that motivated Germany to make this decision.
German officials made a lot of choices for Cypriot banks. Angela Merkel offered them a solution to aquire cash to bail out Cyprus that they could not refuse.
The Cypriot government has already taken a big loan from Russia which has gone into sorting out their finances, now they are in Germany doing another deal to make sure they stay in the Euro. So what makes the euro so exclusive, does this give access to Europe or was there arleady an open policy in Europe before any of this began. The great thing the Cyprus will be celebrating is being awarded to $10 Billion borrowed bailout. The banks will take from one hand and give to the other, how long this bailout will last is not known. I would imagine you could make a lot of money with $10 billion.
News conference following Russian-Cypriot talks. (Photo credit: Wikipedia)
All across the globe lifestyles are changing and the for the Soviets this is not different, keeping up with what the European Union is saying and the rest of Europe or is it the other way. Are Europe trying to keep up with UK and Russia? Its not very clear when you watch the news it seems very distorted what they are saying.
The news shown local Cypriots withdraw cash from cash points and questioned them about the savers accounts. As you will find out this is completely wrong, I understand that this made good viewing. We can all relate with going to cash point either to find out you have no money in your account or there has been a big reduction on the amount in your account. To find out why this is wrong you will need to follow the link below I do not want to spoil it for you.
The Cypriot parliament opted for the bailout deal so for now they remain in good standing and will get to enjoy more time in the Eurozone but there will be a time when everyone need to fend for themselves.
Source Stirring Trouble Internationally ‘…Will The Crisis In Cyprus Bring Down The Euro? Might Do…’