Euro zone orders Cyprus to sieze 10%

[August]

Originally Posted by Skybird

contra

Latin. Not english.

Pro and Con would be more correct.

Just trying to help...

[Betonov]

Washington post says Slovenia is next and it will be worse

http://www.washingtonpost.com/blogs/...d-worry-about/


The comments under the article manage to paint a more accurate picture of our situation

One of the major problems here in Slovenia is that "everyone knows everyone". This way the local wannabe managers (financial thiefs) in tie with scumbag politicians (big banks are in majority owned by the state) made some "friendly loans" that were unsecured. Those loans were then used to buy out the stock of the companies by the people managing them (manager buyouts). Yes it stinks to the high heavens. The companies later either dropped in value or went bankrupt..no way to repay a loan.. The biggest bank NLB is their milking cow...it gets recapitalized over and over by the people so the scum can take advantage of it and funnel the money they make out of the country in places like...Cyprus...

Comparing Slovenia with Cyprus is completely wrong. The only thing the two countries have in common, is the crysis, and that one growing on a totally different basis.
The Slovenes are a very hard-working nation (just to compare, the were making a total of 40% GDP in Yougoslavia, while they presented less than 10% population), whose main problem is simply incompetent politicians, not being able to handle the recession.
Nicely shown from the GDP drop after recession hit worldwide.

The level of graft, corruption and incompetence among the political and business elite are so intertwined, one cannot differentiate between them. The banks were and still are state owned and the politicians dictated who received loans, knowing at the outset ,he funds would not be repaid. Businesses, with government approval, were allowed to stop paying payroll taxes and pension contributions for 5 years, while still collecting and using employee contributions for internal purposes. Slovenia was and still is a banana republic. The Europeans were well aware of the situation prior to their entry into the EU and it was allowed to enter for the sole purpose of serving as buffer zone to Serbia, In the event there was more bloodshed, NATO troops could be moved in.

[Jimbuna]

Empty your piggy bank and save your country the pain

[Skybird]

Originally Posted by Betonov

Washington post says Slovenia is next and it will be worse

Slovenia next? Will be a close race with Luxembourgh for first place.

If one steps back an look at it all, it is amazing how the EU is achieving right the opposite of what it claims it wants to achieve.

It claims to secure peace, but the sentiments between nation's people become more and more hostile.

It claims to secure economic stability, but where ever you look, instability is growing.

It claims to secure security, but all basic pillars of an environment where trade and enterprise would prosper, get systematically destroyed: trust, law and order, independence of constitutional and high courts from government, independence of central banks.

Cyprus next will fall into a deep recession. And then at the latest it will need more money.

It's all sliding from bad to worse, and still nobody in Europe dares to speak out for storming Brussel and setting the EU institutions ablaze.

It seems the pain still is not big enough for still not enough people. Let's wait a while longer then. Since last year I am of very high confidence that in the end the EU will collapse and destroy itself, like the Soviet Union and it's satellites did.

[Jimbuna]

Tighter controls including weekly limits on cash withdrawals and export limits on Euros are being introduced.

http://www.bbc.co.uk/news/business-21936554

[Bilge_Rat]

Originally Posted by Jimbuna

Tighter controls including weekly limits on cash withdrawals and export limits on Euros are being introduced.

http://www.bbc.co.uk/news/business-21936554

What did they expect? the Banking system in Cyprus is dead. Everyone will pull all their cash out as soon as they can.

I have some clients that have had cash frozen in Cyprus, not Russians, but legitimate businesses. Many Canadian businesses use Cyprus companies when investing in Europe because of the favourable tax treaty networks. Now, they are all planning to completely shut down and pull all of their operations from Cyprus. As one said, how can you ever trust the Cypriot government again?

In a more worrying development, many are thinking of pulling out of Europe altogether since if the ECB does this in one EU country what garantee is there that any European Bank is safe?

[yubba]

Wars have start over less.

[August]

Originally Posted by Skybird

It claims to secure peace, but the sentiments between nation's people become more and more hostile.

I'm surprised Europe has been peaceful for this long. Have you folks ever gone 70 years without a war amongst yourselves?

[yubba]

Originally Posted by August

I'm surprised Europe has been peaceful for this long. Have you folks ever gone 70 years without a war amongst yourselves?

I was thinkin you all didn't like us any more,, not draggin us into some kind of war.,, save your butts twice and you hate us no wonder this country is ready to embrace islam.

[August]

Originally Posted by yubba

I was thinkin you all didn't like us any more,, not draggin us into some kind of war.,, save your butts twice and you hate us no wonder this country is ready to embrace islam.

You all?

You all?

Its yubberish.

[mookiemookie]

Originally Posted by yubba

save your butts twice

Conveniently forgetting how there wouldn't be an America unless they saved our butts....

[yubba]

well if it wasn't for america the world would be eatin sourkraut with chop sticks, and speakin french with a russian acsent...surfs up and down the tubes we go,,so who's next to have their savings stolen from them,,????

[Betonov]

Originally Posted by August

I'm surprised Europe has been peaceful for this long. Have you folks ever gone 70 years without a war amongst yourselves?

WW2 was a bit too intense. We're just gathering momentum for a new world war.

Or maybe my grandparents generation helped my parents generation build a society without nationalism and my adventurous generation likes the open borders Europe of today

[HundertzehnGustav]

Originally Posted by August

I'm surprised Europe has been peaceful for this long. Have you folks ever gone 70 years without a war amongst yourselves?

harsh, not nice.

but OH. SO. TRUE.
Thank you for that.