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« Who's Next After Cyprus...Eventually The U.S. | Main | WATCH: Cyprus Man Threatens Bank With Bulldozer »

WATCH: Cyprus President Explains Why It's OK To Steal

Nicos explains why he's cool with government theft.

His words to the people on why the the EU is stealing their money.

Nicos Anastasiades, president of Cyprus, says he had to steal expropriate seize accept a tax on bank deposits to save the island from bankruptcy.  Speaking about the Euro bailout plan in a televised address to the nation, he says Cyprus faces 'a state of emergency,' and an exit from the euro would been worse.  Anastasiades was elected last month on a promise to tackle the country's debt crisis.

Here's a suggestion from us, Nicos.

Punish the bondholders who made the risky bets and not the depositors who did nothing more than commit the egregious sin of trusting the banking system.



Update from the Wall Street Journal's Matina Stevis.   New plan would cut tax on smaller savers to 3% of their deposits.  Higher end will pay 15.9%.  Ouch.




Nicos Anastasiades, the president of Cyprus, speaks after debating the euro bailout plan with Cypriot MPs, on Monday while protests continue outside parliament.  A vote on the bailout has been postponed, meaning the country's banks could remain closed for longer than expected, much to the dissatisfaction of Cypriots and anxiety of European leaders.

Cyprus should have followed Denmark's example.  This my friends is exactly how you conduct a multi-billion dollar bank bailout.

Late update from the New York Times:




WATCH: Cyprus Man Threatens Bank With Bulldozer



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Reader Comments (13)

Idiot. These guys SUCK at poker.
Mar 19, 2013 at 12:27 AM | Unregistered CommenterDr. Pitchfork
No bank run in Spain today

El Mundo reported that Spanish finance minister Luis de Guindos had argued against raiding bank deposits in Cyprus during a meeting of euro zone finance ministers at the weekend.

Today, De Guindos has been insisting that the deposit levy could not be repeated in Spain.

Open Europe, the think tank, has also rounded up the press reaction in both Spain and Italy, here: While everyone is speculating about contagion to other eurozone countries: What are the Italian and Spanish press actually saying about the Cypriot bailout?

Mar 19, 2013 at 12:48 AM | Registered CommenterDailyBail
Full transcript of his speech in English is here...


There is much more to it than the highlight clip I showed.
Mar 19, 2013 at 12:54 AM | Registered CommenterDailyBail
Cypriot Bailout Vote Delayed Again, Bank Holiday Extended Through Friday

21.48 Cyprus state TV reports that revised deposit tax would exempt savers with deposits under €20,000.

20.38 The EuroGroup has released an official statement. It recommends that Cyprus eases terms on small depositors, reaffirms the importance of deposit guarantees under €100,000, maintains that Cyprus must stick to the €5.8bn goal and asserts that the deposit levy is "one off" measure.

20.24 The EuroGroup has decided to give Cyprus more flexibility over the bank levy, a Greek finance ministry source has told Reuters. The EuroGroup has agreed that depositors with less than €100,000 should be protected, the official said.

20.16 Cyprus should raise €5.8bn from bank levy, according to sources.

19.28 Greek-based Antenna TV is now reporting that Mr Anastasiades will tell the Eurogroup that he doesn't have enough backing in parliament to pass the bill.

Mar 19, 2013 at 12:59 AM | Registered CommenterDailyBail
'Unfair, Dangerous' Cyprus Deal Whacks Rich Russians

Mar 19, 2013 at 1:46 AM | Registered CommenterDailyBail
To get through a menial task ealier, I turned on the re-broadcast of PBS Newshour to get the latest banker propaganda on Cyprus. I was not disappointed. Judy Woodruff wheeled out an up-and-coming anal retentive banking cadaver, Jacob Kirkegaard, to explain what's going on. Here's the money quote:

"I view Cyprus as right now being between the first and the second TARP vote here in the United States. It basically takes a few days, unsurprisingly, for the sort of people's representatives to realize that they really don't have a choice. It's the choice between something terrible and something catastrophic."


So there we have it. Cyprus is the banksters' beta test of its nuclear bailout option: we either rape your children and steal your money or we destroy your entire economy.

Pitch, Cyprus' president is a shitty poker player only if he's playing for the Cypriot team. If the politicians there are anything like they are here, that may be a very bad assumption.
Mar 19, 2013 at 2:10 AM | Registered CommenterCheyenne
For "Russians" read Israelis (from Russia).

"When you live in a country that is run by thieves, there is no dishonor in being a thief." - Kung Fu Tzu (Confucius).
Mar 19, 2013 at 6:34 AM | Unregistered CommenterGoofy
Point 1: Precedent, trial, Problem / Reaction / Solution - measure public backlash
Point 2: Reaffirm sovereignty transfer & dominance of Brussels via catch 22 blackmail - warning to other euro nations
Point 3: Poke Russia in the eye
Mar 19, 2013 at 7:35 AM | Unregistered CommenterPraxis
"Pitch, Cyprus' president is a shitty poker player only if he's playing for the Cypriot team. If the politicians there are anything like they are here, that may be a very bad assumption. "

LOL, I thought you might see it that way. Point taken.
Mar 19, 2013 at 8:21 AM | Unregistered CommenterDr. Pitchfork
Hehe, they bite the hand that feeds them, the herion/kokain/criminals/warlords/etc. kings of the world.

And they have a looooot of money. And anger.
This exKGBs are some of the clinetell, the majorety of my homelands stinking ritch people to, have their home address in Cypros, and all of them have founds in, the heep is in the stratospheric class.

I have absolutely No syphaty with the criminals, and the corrupt politicians, nada, because untill now, the very same f.... have mad a lott of money on intress, and most of their welth is from Crony capitalism and monpolism/nepotism and Russia is an classic exaple on this senario, and others to, specaly Shipping, where the bigg cannons are.

The problem is more complex than this, and my sole sympaty goes to the Cypriotic people that have an utterly corrupt and criminal politicians in their helm, if there where any kind of doubth, its gone completlly.
And I also belive this is a test, to see how waken people are, if they understands this crimes or not, this is no where near anything Capitalistic, lazzies fair, whatt ever, this is fraud and downright criminality done by a goverment to help, bondholders and others that is in the topp of the foodchain.
If the Cypriots aprove this, then they will take on the rest of the Eu/Euro, it gomes, because this is their last resort, to plunder their own land.

Never, never acept this Cypriots, this is like IceLand, dont give up and dont give in.

Mar 19, 2013 at 9:08 AM | Unregistered Commentermikael
"I thought you might see it that way."

I've seen very few--if any--politicians stand up for their constitutents rather than their true owners. Invariably involuntary money transfers are FROM the people TO the banksters. Pols are as reliable as diodes in that regard (and have the same amount of intelligence and soul). Maybe Beppe Grillo will be different. Maybe.
Mar 19, 2013 at 9:29 AM | Registered CommenterCheyenne
Cyprus bailout: Parliament expected to reject savings levy as debate begins

Mar 19, 2013 at 12:38 PM | Registered CommenterDailyBail
Ok, What I understood is that: He and his demon cohorts want to keep the power. And that they offered bonds to the depositors in exchange for keeping their money...


But arent the Eurobonds worthless? The EU is falling apart right now!

Just goes to show you, the NWO is not going to work.
Mar 20, 2013 at 4:37 PM | Unregistered CommenterArthur

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