Goedkeuring steunprogramma voor Cyprus (rijksoverheid.nl) (via @mathijsbouman)
English translation (unofficial!)(Dutch finance ministry:approval support package for Cyprus)- een herstructurering van de bankensector. (Restructuring of the banking sector)- privatiseringen en de verkoop van een deel van de Cypriotische goudvoorraad.(privatizations & sell-off of a part of the gold reserve)
Breakdown of who holds Cypriot bank deposits. (ECB, pdf, 1 page) (via @charlesforelle)
Statement by the President of the Republic Mr Nicos Anastasiades (moy.gov.cy, Mar 16th 2013)
Cyprus President Nicos Anastasiades' nationally televised speech (enetenglish.gr)
History: Cyprus adopts the euro (europa.eu, Jan 1st 2008)
Statement by the President of the Republic Mr Nicos Anastasiades (moy.gov.cy, Mar 16th 2013)
Cyprus President Nicos Anastasiades' nationally televised speech (enetenglish.gr)
History: Cyprus adopts the euro (europa.eu, Jan 1st 2008)
by Vincent Flasseur/Reuters (via @ReutersFlasseur)
source: thomsonreuters.com
Press reports & opinons:
Savers forced to bear costs in Cyprus bailout (Reuters, Mar 16th 2013) (via @rdfemmott)
Cyprus set to receive international bailout (DW(.de), Mar 16th 2013)
Euro-Länder bitten Zyperns Bankkunden zur Kasse (Die Welt, Mar 16th 2013) (via @Tiefseher)
Savers forced to bear costs in Cyprus bailout (Cyprus Mail, Mar 16th 2013)
Shock in Cyprus as bailout brings bank account haircut [update] (Ekathimerini, Mar 16th 2013)
Cyprus Bank Deposits to Be Taxed in $13 Billion Bailout (Bloomberg, Mar 16th 2013)
Cyprus Needs to Find a Quick Debt Fix (S. Nixon,WSJ, Mar 16h 2013)
Why Cyprus's rescue matters to us (R. Peston,BBC, Mar 16th 2013)
Cyprus Depositor Tax: Genius Plan or the End of the Euro? (K. Whelan, Forbes, Mar 16th 2013)
Cyprus bail-out risks UK troops’ savings (Telegraph, Mar 16th 2013)
Cyprus bailout - Your stories (BBC, Mar 16th 2013)
Rehn Rules Out Future ‘Stability Fees’ on Euro Bank Depositors (Bloomberg, Mar 16th 2013)
A stupid idea whose time had come (J. Cotterill,FT Alphaville, Mar 16th 2013)
Sowing the wind (Coppola Comment, Mar 16th 2013)
The Cyprus precedent (F. Salmon, Reuters, Mar 16th 2013)
“The Cyprus bailout deal is a disaster for EU rules and Single Market principles” (Sharon Bowles, Mar 16th 2013)
Eurozone seeks to broker deal on Cyprus bailout (Times of India (AP),Mar 16th 2013)
Cash machines EMPTIED across Cyprus as 60,000 British savers face losing MILLIONS after £8.7billion EU bailout imposes tax on all of nation's bank accounts (Daily Mail, Mar 16th 2013)
Savers forced to bear costs in Cyprus bailout (Cyprus Mail, Mar 16th 2013)
Shock in Cyprus as bailout brings bank account haircut [update] (Ekathimerini, Mar 16th 2013)
Cyprus Bank Deposits to Be Taxed in $13 Billion Bailout (Bloomberg, Mar 16th 2013)
Cyprus Needs to Find a Quick Debt Fix (S. Nixon,WSJ, Mar 16h 2013)
Why Cyprus's rescue matters to us (R. Peston,BBC, Mar 16th 2013)
Cyprus Depositor Tax: Genius Plan or the End of the Euro? (K. Whelan, Forbes, Mar 16th 2013)
Cyprus bail-out risks UK troops’ savings (Telegraph, Mar 16th 2013)
Cyprus bailout - Your stories (BBC, Mar 16th 2013)
Rehn Rules Out Future ‘Stability Fees’ on Euro Bank Depositors (Bloomberg, Mar 16th 2013)
A stupid idea whose time had come (J. Cotterill,FT Alphaville, Mar 16th 2013)
Sowing the wind (Coppola Comment, Mar 16th 2013)
The Cyprus precedent (F. Salmon, Reuters, Mar 16th 2013)
“The Cyprus bailout deal is a disaster for EU rules and Single Market principles” (Sharon Bowles, Mar 16th 2013)
Eurozone seeks to broker deal on Cyprus bailout (Times of India (AP),Mar 16th 2013)
Cash machines EMPTIED across Cyprus as 60,000 British savers face losing MILLIONS after £8.7billion EU bailout imposes tax on all of nation's bank accounts (Daily Mail, Mar 16th 2013)
Cyprus from MoU developments & analysis until Mar 15th 2013
Cyprus bailout: Memorandum of Understanding (MoU)
Some developments of 2012 (<=update Mar 22nd 2013,EZRbackground)
selected reactions on Twitter:
Some developments of 2012 (<=update Mar 22nd 2013,EZRbackground)
selected reactions on Twitter:
EU levies Cyprus depositors in bank bailout ekathimerini.com/4dcgi/_w_artic…. This is the most insane policy yet in Europe. Does EU want bank runs???
— Steve Keen (@ProfSteveKeen) 16 maart 2013
PIK reports that Germany openly blackmailed #Cyprus with euro exit and stopping ELA for Laiki bank if they did not agree
— Yiannis Mouzakis (@YiannisMouzakis) 16 maart 2013
Slept for eight hours, and woke up in a whole new banking world #Cyprus
— Laura Noonan (@LauraNoonanIRL) 16 maart 2013
I love how the Cypriot bank haircut is called "an upfront one-off stability levy" Orwellian communication at its best consilium.europa.eu/uedocs/cms_dat…
— Karl Whelan (@WhelanKarl) 16 maart 2013
Not many historical episodes of a full-on bank levy on all savings that I can find. Norway tried it in 1936. It led to an exodus of deposits
— Ed Conway (@EdConwaySky) 16 maart 2013
My only question about the Cypriot bail-in tinyurl.com/cartsvu is why the gov didn't choose to exempt depositors with under, say, E10,000
— Barry Eichengreen (@B_Eichengreen) 16 maart 2013
1. #Cyprus president has said insured deposits were e30bn. That means uninsured e35bn. If those taxed at 16.7%, no need to tax others.
— Hugo Dixon (@Hugodixon) 16 maart 2013
2 #cyprus MPs should push for 17% tax on uninsured deposits and let others off with no tax - or at least something in between.
— Hugo Dixon (@Hugodixon) 16 maart 2013
3. It wd harm #cyprus as offshore centre. But surely better to protect small local savers than Russians
— Hugo Dixon (@Hugodixon) 16 maart 2013
A striking chart from the Barclays research I mentioned last night. Eurozone bank recap costs as % of GDP. twitter.com/katie_martin_F…
— Katie Martin (@katie_martin_FX) 17 maart 2013
My #Cyprus maths slightly wrong. Insured deposits E30bn, uninsured E38bn. If uninsured deposits taxed 15.4%, no need to grab insured.
— Hugo Dixon (@Hugodixon) 17 maart 2013
@andrs_mr parliament vote in the afternoon. There are disagreements. Majority is not certain
— Marilena Evangelou (@MarilenaEvan) 17 maart 2013
@andrs_mr president just postponed the meeting with the MP s this morning. I'm not sure if the parliament will vote after this...
— Marilena Evangelou (@MarilenaEvan) 17 maart 2013
Let's calm down. I am just saying that if you were earning 5% a year on a short-term euro deposit you can perhaps suffer a one-off 6% tax.
— Jean Pisani-Ferry (@BruegelPisani) 16 maart 2013
Chancellor says Government will compensate UK Government & military personnel whose bank accounts in Cyprus are subject to EU bailout levy
— Sky News Newsdesk (@SkyNewsBreak) 17 maart 2013
Deposit holders in Cyprus pay. Solves todays political problem in Germany at the cost of future bank runs in other Eurozone countries.
— Paul De Grauwe (@pdegrauwe) 17 maart 2013
Just when you wonder whether the Europeans could not screw it up any more they do! Staggering. Touching depositors is a mistake.
— Gerard Lyons (@DrGerardLyons) 17 maart 2013
Question of who takes loss unresolved in Eurozone, muddling through constantly changes rules of game leading to uncertainty & stagnation
— Stephen King (@KingEconomist) 17 maart 2013
Europe’s 2 dramatic haircuts for not sparing the change for #Cyprus. gustavopiga.it/2013/europes-2…
— Gustavo Piga (@GustavoPiga) 17 maart 2013
#Cyprus: How on earth can #IMF find this "a solution that appropriately allocates burden sharing." Really, Christine? imf.org/external/np/se…
— Alessandro Leipold (@ALeipold) 17 maart 2013
The Cypriot Haircut nyti.ms/10408Pl
— Paul Krugman (@NYTimeskrugman) 17 maart 2013
De enige juiste beslissing is om de spaardeposito's onder 100.000 euro geen enkele haircut te geven. Dit tast de basis van DGS garantie aan!
— Sylvester Eijffinger (@SCWEijffinger) 17 maart 2013
Cyprus’ Stability Levy: Another sad euphemism (updated on 18th March) yanisvaroufakis.eu/2013/03/17/cyp…
— Yanis Varoufakis (@yanisvaroufakis) 17 maart 2013
Wasn't me: Germany would have protected insured deposits, Schaeuble says tinyurl.com/cr926tz
— Pedro da Costa (@pdacosta) 17 maart 2013
Eurozone leaders have made a stupid error to let small deposit holders foot the bill in Cyprus. @j_dijsselbloem: wanna be startin' bankruns?
— Bas Jacobs (@_basjacobs) 17 maart 2013
Eurozone leaders have made a stupid error to let small deposit holders foot the bill in Cyprus. @j_dijsselbloem: wanna be startin' bankruns?
— Bas Jacobs (@_basjacobs) 17 maart 2013
Die "Rettung" von Zypern auf Kosten der Sparer faz.net/-hhu-77qke #faz
— Patrick Welter (@WelterPatrick) 18 maart 2013
Here is the current state of play in #Cyprus ahead of today's Parliament vote wp.me/p1VCJo-m9
— Yiannis Mouzakis (@YiannisMouzakis) 18 maart 2013
Cyprus: The next blunder | vox bit.ly/ZUdAmK
— Raquel Vázquez (@rvazfer) 18 maart 2013
#Cyprus' "uncharted waters" in one simple pic, via @wsj. A roving mine in the Mediterranean. #ClubMed twitter.com/ALeipold/statu…
— Alessandro Leipold (@ALeipold) 18 maart 2013
Timely (1991) study by @b_eichengreen on capital levies. Progressivity is key. Hats off to @djmatthewdalton. #Cyprus papers.ssrn.com/sol3/papers.cf…
— Alessandro Leipold (@ALeipold) 18 maart 2013
WSJ has anon sourced report that Cyprus will ratchet down "tax" on insured deposits, hit big accounts harder on.wsj.com/XSEboy
— Toby Sterling (@lbsterling) 18 maart 2013
Legalised bank robbery. my updated column in #cyprus bit.ly/16BSYF3
— Hugo Dixon (@Hugodixon) 18 maart 2013
Breakdown of #Cyprus deposits (end-Jan): Domestic residents €42.8b, other euro-area residents €4.7b, residents of rest of the world €20.9b.
— Manos Giakoumis (@ManosGiakoumis) 18 maart 2013
Breakdown of #Cyprus deposits (end-Jan): Households €35b, non-financial corps €21.4b, ins & pension funds €4.4b, othr finncial intermd €7.1b
— Manos Giakoumis (@ManosGiakoumis) 18 maart 2013
Island Nightmares nyti.ms/16Eh7us
— Paul Krugman (@NYTimeskrugman) 18 maart 2013
#cyprus france's moscovici says raid on savers can be changed if 5.8bn still raised
— Ian Traynor (@traynorbrussels) 18 maart 2013
Anastasiades rebuffs Schaeuble statements (Ekathimerini via @openeurope )ekathimerini.com/4dcgi/_w_artic…
— EZR news channel(@andrs_mr) 18 maart 2013
Cyprus bank closure now extended until Friday. Cypriots now hold Germans hostage, not the other way round: nytimes.com/2013/03/19/bus…
— Anatole Kaletsky (@Kaletsky) 18 maart 2013
Making a complete mess of Cyprus: adamsmith.org/blog/money-ban…
— Adam Smith Institute (@ASI) 18 maart 2013
Good infographic from Reuters and @scottybarber on the level of periphery bank deposits relative to 2009 twitpic.com/ccdin5
— Edward Harrison (@edwardnh) 18 maart 2013
Wind säen in Zypern bit.ly/Yjzfq4 | via Mark Dittli (FuW-Bot)
— Finanz u. Wirtschaft (@FuW_News) 18 maart 2013
Surprisingly - Putin calls Cyprus deposit levy "unfair, dangerous" reut.rs/ZCWWbr via @reuters
— Pierre Briançon (@pierrebri) 18 maart 2013
In last #IMF consultation w #Cyprus (Nov 2011), "money-laundering" is mentioned but once, in totally anodyne para 31. imf.org/external/pubs/…
— Alessandro Leipold (@ALeipold) 18 maart 2013
In concluding 2011 Consultation with #Cyprus, #IMF Directors had not a peep on money laundering. Tough surveillance.. imf.org/external/np/se…
— Alessandro Leipold (@ALeipold) 18 maart 2013
#IMF Board on #Cyprus in 2010: "Consideration could be given to enlarging the deposit insurance facility." A thought. imf.org/external/np/se…
— Alessandro Leipold (@ALeipold) 18 maart 2013
2001 assessment of Cyprus' offshore sector's compliance with intl standards. "Materially noncompliant"in only 2 cases imf.org/external/np/of…
— Alessandro Leipold (@ALeipold) 18 maart 2013
Willem Buiter and co-authors - The Euro Area Recovery Starts with Cyprus - Citi: ir.citi.com/01nb0LCTtZ4lDj…
— Bas Jacobs (@_basjacobs) 18 maart 2013
Nobel laureate Chris Pissarides - Only hope of rescuing economy incyprus.com.cy/en-gb/Cyprus/4… (via @pietgautier)
— Bas Jacobs (@_basjacobs) 18 maart 2013
The Яussians Are Coming! The Яussians Are Coming! nyti.ms/16ExDe3
— Paul Krugman (@NYTimeskrugman) 18 maart 2013
Streit um Beteiligung der Kleinsparer: Verursacher des Zypern-Chaos schieben sich die Schuld gegenseitig zufaz.net/-hhu-77ro4
— FAZ Top-Themen (@FAZ_Topnews) 18 maart 2013
‘Cyprus Finance Minister proposed tax on all savings’ - timesofmalta.com: timesofmalta.com/articles/view/… via @timesofmalta
— Panikos Hadjipanayis (@PHadjipanayis) 16 april 2013
Sarris says first Eurogroup deal a 'success,' would have prevented Laiki closure(Ekathimerini, Mar 27th 2013)
Cyprus Finance Minister Sarris Quits After Brokering Rescue (Bloomberg, Apr 2nd 2013)
Love to read all the tweets. :) Cyprus needs to pass this economic crisis. I think they are receiving too much assistance.
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