There may be trouble ahead...

[Barman]

So essentially the bailout deal boils down to

A. An economy that will shrink rapidly and painfully as there is no credit to be had. Leading to people moving their cash out as fast as they are able to with the current restrictions.

B. An economy whose main industry is being destroyed.

How the hell are things supposed to get better?

We used to have a great business in cheap tourism for Brits (many of whom bought houses and stayed here)... But the €uro put paid to that...

Everybody said that we didn't need the tourists as we were a major banking place - gateway to the east and all that shite...

Now we've fucked both...

We really have got fuck all now... they sold all the productive land to build houses and hotels - which stand empty....

[Barman]

So is this haircut 40% of all the account if it's over €100k or 40% of the amount that it exceeds €100k?

40% of the amount over €100K is my understanding...

[apc2010]

So essentially the bailout deal boils down to

A. An economy that will shrink rapidly and painfully as there is no credit to be had. Leading to people moving their cash out as fast as they are able to with the current restrictions.

B. An economy whose main industry is being destroyed.

How the hell are things supposed to get better?

We used to have a great business in cheap tourism for Brits (many of whom bought houses and stayed here)... But the €uro put paid to that...

Everybody said that we didn't need the tourists as we were a major banking place - gateway to the east and all that shite...

Now we've fucked both...

We really have got fuck all now... they sold all the productive land to build houses and hotels - which stand empty....

I remember those fights at the other place saying Cyprus did not need tourism ..wtf saved the country after 1974 .....why are all the kids driving Mercs.......

what they forget most jobs rely on tourists from the farmer to taxi drivers,,,

[Steve]

So is this haircut 40% of all the account if it's over €100k or 40% of the amount that it exceeds €100k?

40% of the amount over €100K is my understanding...

yep see the Eurogroup press release

[GROWLER]

I'm doing an exceedingly good deal on mattress's at the mo. for ex pats btw.

[Barman]

So essentially the bailout deal boils down to

A. An economy that will shrink rapidly and painfully as there is no credit to be had. Leading to people moving their cash out as fast as they are able to with the current restrictions.

B. An economy whose main industry is being destroyed.

How the hell are things supposed to get better?

We used to have a great business in cheap tourism for Brits (many of whom bought houses and stayed here)... But the €uro put paid to that...

Everybody said that we didn't need the tourists as we were a major banking place - gateway to the east and all that shite...

Now we've fucked both...

We really have got fuck all now... they sold all the productive land to build houses and hotels - which stand empty....

I remember those fights at the other place saying Cyprus did not need tourism ..wtf saved the country after 1974 .....why are all the kids driving Mercs.......

what they forget most jobs rely on tourists from the farmer to taxi drivers,,,

Indeed... they couldn't see it could they...? 

[apc2010]

So essentially the bailout deal boils down to

A. An economy that will shrink rapidly and painfully as there is no credit to be had. Leading to people moving their cash out as fast as they are able to with the current restrictions.

B. An economy whose main industry is being destroyed.

How the hell are things supposed to get better?

We used to have a great business in cheap tourism for Brits (many of whom bought houses and stayed here)... But the €uro put paid to that...

Everybody said that we didn't need the tourists as we were a major banking place - gateway to the east and all that shite...

Now we've fucked both...

We really have got fuck all now... they sold all the productive land to build houses and hotels - which stand empty....

I remember those fights at the other place saying Cyprus did not need tourism ..wtf saved the country after 1974 .....why are all the kids driving Mercs.......

what they forget most jobs rely on tourists from the farmer to taxi drivers,,,

Indeed... they couldn't see it could they...? 

Nearly everyone I know works for tourism in some way direct or indirect even down to the webdesigners...even the tradesmen rely on it.......



And no mention of cutting down the size of the government or making them work a full day........

[Barman]

So essentially the bailout deal boils down to

A. An economy that will shrink rapidly and painfully as there is no credit to be had. Leading to people moving their cash out as fast as they are able to with the current restrictions.

B. An economy whose main industry is being destroyed.

How the hell are things supposed to get better?

We used to have a great business in cheap tourism for Brits (many of whom bought houses and stayed here)... But the €uro put paid to that...

Everybody said that we didn't need the tourists as we were a major banking place - gateway to the east and all that shite...

Now we've fucked both...

We really have got fuck all now... they sold all the productive land to build houses and hotels - which stand empty....

I remember those fights at the other place saying Cyprus did not need tourism ..wtf saved the country after 1974 .....why are all the kids driving Mercs.......

what they forget most jobs rely on tourists from the farmer to taxi drivers,,,

Indeed... they couldn't see it could they...? 

Nearly everyone I know works for tourism in some way direct or indirect even down to the webdesigners...even the tradesmen rely on it.......



And no mention of cutting down the size of the government or making them work a full day........

That's the worst thing - the gubberment is the same size as when they joined the EU - yet all the work is done in Brussels now! 

[apc2010]

Talk of bank workers striking tomorrow.........

[Barman]

Talk of bank workers striking tomorrow.........

You couldn't make it up.... 

[apc2010]

NICOSIA, - Most Cyprus banks will reopen on Tuesday but the Bank of Cyprus and Popular Bank will reopen on Thursday, a Central Bank source said.

"All banks with the exception of Popular and Bank of Cyprus will reopen on Tuesday," the Central Bank source said on Monday.

Popular and Bank of Cyprus would re-open on March 28 and restrictions of a 100 euro ($130)-per-day withdrawal limit from cashpoints, introduced on Sunday, would remain in force until then, the source added. (Reuters)

[Barman]

NICOSIA, - Most Cyprus banks will reopen on Tuesday but the Bank of Cyprus and Popular Bank will reopen on Thursday, a Central Bank source said.

"All banks with the exception of Popular and Bank of Cyprus will reopen on Tuesday," the Central Bank source said on Monday.

Popular and Bank of Cyprus would re-open on March 28 and restrictions of a 100 euro ($130)-per-day withdrawal limit from cashpoints, introduced on Sunday, would remain in force until then, the source added. (Reuters)

 

[apc2010]

NICOSIA, - Most Cyprus banks will reopen on Tuesday but the Bank of Cyprus and Popular Bank will reopen on Thursday, a Central Bank source said.

"All banks with the exception of Popular and Bank of Cyprus will reopen on Tuesday," the Central Bank source said on Monday.

Popular and Bank of Cyprus would re-open on March 28 and restrictions of a 100 euro ($130)-per-day withdrawal limit from cashpoints, introduced on Sunday, would remain in force until then, the source added. (Reuters)

 

Yep , we are fecked too.........

So they are gonna strike on a day when they are closed .........

[Barman]

NICOSIA, - Most Cyprus banks will reopen on Tuesday but the Bank of Cyprus and Popular Bank will reopen on Thursday, a Central Bank source said.

"All banks with the exception of Popular and Bank of Cyprus will reopen on Tuesday," the Central Bank source said on Monday.

Popular and Bank of Cyprus would re-open on March 28 and restrictions of a 100 euro ($130)-per-day withdrawal limit from cashpoints, introduced on Sunday, would remain in force until then, the source added. (Reuters)

 

Yep , we are fecked too.........

So they are gonna strike on a day when they are closed .........

 

[Grumpmeister]

And so it begins, the head of the Eurogroup of Eurozone finance ministers is now saying the Cyprus deal could be a template for any future bailouts. 

http://www.bbc.co.uk/news/business-21920574