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Author Topic: There may be trouble ahead...  (Read 173884 times)

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Offline Marley's Ghost (Imbiber of Spirits)

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Re: There may be trouble ahead...
« Reply #225 on: March 21, 2013, 06:28:17 PM »
 noooo:

It's all going Pete Tong!

And how long, do you think, will it be, after the banks re-open, for thousands to withdraw everything they have on deposit?

I'll tell you!

About the same length of time that exists between the lights turning green and the cabbie behind you honking his horn!
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Offline Uncle Mort

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Re: There may be trouble ahead...
« Reply #226 on: March 21, 2013, 06:42:06 PM »
Do people realise that there isn't enough actual cash to pay out everyone in full.
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Offline Barman

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Re: There may be trouble ahead...
« Reply #227 on: March 21, 2013, 06:49:31 PM »
Quote
Capital controls to be implemented in Cyprus - DJ

Dow Jones newswires is reporting the bank reform legislation which is being submitted to the Cypriot parliament tonight will impost capital controls on its banking sector.

That will restricted the amount of money that can be taken out of a bank (when they reopen).

Quite a moment for the single currency.

 noooo:
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Online Nick

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Re: There may be trouble ahead...
« Reply #228 on: March 21, 2013, 06:51:28 PM »
Quote from: Uncle Mort on March 21, 2013, 06:42:06 PM
Do people realise that there isn't enough actual cash to pay out everyone in full.

Quite so, unless they print it, and that is NOT going to happen.
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Offline apc2010

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Re: There may be trouble ahead...
« Reply #229 on: March 21, 2013, 06:57:00 PM »
Quote from: Nick (GC First Class) on March 21, 2013, 06:51:28 PM
Quote from: Uncle Mort on March 21, 2013, 06:42:06 PM
Do people realise that there isn't enough actual cash to pay out everyone in full.

Quite so, unless they print it, and that is NOT going to happen.

Greece are sending hard cash........... noooo:
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Offline Barman

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Re: There may be trouble ahead...
« Reply #230 on: March 21, 2013, 08:21:01 PM »
S&P downgrades Cyprus

Another blow: Standard & Poor's has cut its credit rating on Cyprus by one notch a few minutes ago, to CCC.

That's two notches above default.

Interesting timing - given the uncertainty tonight over Cyprus's plans. And I imagine anyone considering investing in Cyprus is well aware that it got somewhat riskier this week.

FT Alphaville's Joseph Cotterill advises against snarking about rating agencies, though:
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Offline Tipsy Gipsy

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Re: There may be trouble ahead...
« Reply #231 on: March 21, 2013, 10:04:55 PM »
Bank queues are being shown on BBC news can you wave or sidle on from camera left so we can see you?
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Offline apc2010

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Re: There may be trouble ahead...
« Reply #232 on: March 21, 2013, 10:06:57 PM »
Quote from: Tipsy Gipsy on March 21, 2013, 10:04:55 PM
Bank queues are being shown on BBC news can you wave or sidle on from camera left so we can see you?

Pass BMs bedtime , I have no money and Baldy is hiding round the corner......
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Offline Tipsy Gipsy

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Re: There may be trouble ahead...
« Reply #233 on: March 21, 2013, 10:08:00 PM »
 lol:
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Offline Darwins Selection

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Re: There may be trouble ahead...
« Reply #234 on: March 21, 2013, 10:45:38 PM »
Quote from: Uncle Mort on March 21, 2013, 06:42:06 PM
Do people realise that there isn't enough actual cash to pay out everyone in full.

Those who are smart enough to realise will be at the head of the queue to get theirs out.

Those who aren't smart enough will be at the head of the queue because they want theirs first.



£10 says they use water cannon before tear gas.
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Offline apc2010

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Re: There may be trouble ahead...
« Reply #235 on: March 21, 2013, 10:51:32 PM »
Quote from: Darwins Selection on March 21, 2013, 10:45:38 PM
Quote from: Uncle Mort on March 21, 2013, 06:42:06 PM
Do people realise that there isn't enough actual cash to pay out everyone in full.

Those who are smart enough to realise will be at the head of the queue to get theirs out.

Those who aren't smart enough will be at the head of the queue because they want theirs first.



£10 says they use water cannon before tear gas.

Zackly.........also headline on newsnight .......will not help tourism ....if they shaff the ruskis again tourism down ...
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Offline Barman

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Re: There may be trouble ahead...
« Reply #236 on: March 22, 2013, 09:19:29 AM »
Quote
CYPRUS GOVERNMENT SPOKESMAN TO MAKE STATEMENT AT MIDDAY

The words 'about', 'fucking' and 'time' spring to mind....  noooo:
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Offline Pastis

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Re: There may be trouble ahead...
« Reply #237 on: March 22, 2013, 10:12:31 AM »
Quote from: Barman on March 22, 2013, 09:19:29 AM
Quote
CYPRUS GOVERNMENT SPOKESMAN TO MAKE STATEMENT AT MIDDAY

The words 'about', 'fucking' and 'time' spring to mind....  noooo:

Delayed?  (according to the breaking news on the beeb news channel)
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Offline Barman

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Re: There may be trouble ahead...
« Reply #238 on: March 22, 2013, 10:24:52 AM »
What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

    Restrictions in daily withdrawals
    Ban on premature termination of time savings deposits
    Compulsory renewal of all time savings deposits upon maturity
    Conversion of current accounts to time deposits
    Ban or restrictions on non cash transactions
    Restrictions on use of debit, credit or prepaid debit cards
    Ban or restriction on cashing in checks
    Restrictions on domestic interbank transfers or transfers within the same bank
    Restrictions on the interactions/transactions of the public with credit institutions
    Restrictions on movements of capital, payments, transfers
    Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety


 eeek: eeek: eeek: eeek:

Fuck me!  Shocked:
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Offline Darwins Selection

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Re: There may be trouble ahead...
« Reply #239 on: March 22, 2013, 10:32:26 AM »
Quote from: Barman on March 22, 2013, 10:24:52 AM
What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

    Restrictions in daily withdrawals
    Ban on premature termination of time savings deposits
    Compulsory renewal of all time savings deposits upon maturity
    Conversion of current accounts to time deposits
    Ban or restrictions on non cash transactions
    Restrictions on use of debit, credit or prepaid debit cards
    Ban or restriction on cashing in checks
    Restrictions on domestic interbank transfers or transfers within the same bank
    Restrictions on the interactions/transactions of the public with credit institutions
    Restrictions on movements of capital, payments, transfers
    Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety


 eeek: eeek: eeek: eeek:

Fuck me!  Shocked:

No restriction on turnip transactions though, good job you used up your cash on them.  :thumbsup:
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