Article

2013-04-01 Europe

Russia won't bailout Cypress depositors that might now lose 60%

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Posted by DarthVader 2013-04-01 09:33|| || Front Page|| [1 views ] Top

#1 Gazprom attempted an eleventh-hour white knight proposal that would have recapitalized Cyprus teetering banking system and allowed depositors to remain whole, but would have grabbed the natural-gas rights of the island in return.

Ferdinand Maximilian Joseph to the white courtesy phone.

You know if you're going to be screwed by the EUcrats, you can sell your soul to another authoritarian who's been looking for -

- warm water anchorage for its fleet in the Med now that its other port of call in Syria is not looking good.
- making good on local oil and gas deposits that can be refined into vital fuel for that fleet.
- be allowed to conduct local government [ie Venezuela and Cuba] and some regional politics, particularly if it rubs Euros the wrong way, but leave the important international stuff to Big Brother.

Posted by Procopius2k 2013-04-01 10:11|| 2013-04-01 10:11|| Front Page Top

#2 It also appears to be a selling point that Russia will back the leaders even if they lay fire on their citizens. We may sneer at that but teetering government officials may find that a feature or selling point.

Posted by swksvolFF 2013-04-01 10:33|| 2013-04-01 10:33|| Front Page Top

#3 Of course the Cypriot president won't care about the big depositors and won't make a deal with the Russians. As we predicted here at the Burg, it is now being reported that he and his family go their money out of the Cypriot banks days before the collapse.

So what does he care what happens to the depositors? He got his...

Posted by Steve White 2013-04-01 12:13|| 2013-04-01 12:13|| Front Page Top

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