Hum! He is nice Nicolas Doze, but what he does not say is that within the framework of thebanking union, precisely, if the ECB does not bankrupt the defective banks, well, it must refloat them... So, as we have seen again recently when we pledge to save the banks, we lose every time...
La last joke in the banking sector cost us (all) 1000 billion €uro, for what result?
And you want more? As in the United States, everything that is injected into the banking sector is captured by the meanders of finance!
And never happens to the real economy.... Don't be not autistic like our leaders...And have the courage to look the world in front...
Reportage Fearing the permanent closure of their bank, the employees of Laiki demonstrated this Thursday evening in front of Parliament. MEPs postponed the vote on the solidarity fund until Friday.
"I'm afraid of losing my money, but above all I'm afraid of losing my job, and I'm afraid for my country." Michalina, a young employee of the Cypriot bank Laiki, came to demonstrate with her colleagues this Thursday evening in front of the Parliament in Nicosia. None of them have worked this week, since the banks closed last Saturday. About a hundred people are there, facing the row of policemen who are barring access to the building, where the deputies have been meeting since the beginning of the evening, to say “no” to the closing of their bank. Laiki bank (“People's Bank” in Greek) is the bank that has become a weak link in Cyprus. The one whose merchants no longer accept checks or cards, the one in front of which we queue to withdraw money from the distributor.
Second establishment in the country after Bank of Cyprus, Laiki had to be recapitalized by the State last year. Yesterday Wednesday, a merger of the two banks was mentioned in some media, then a takeover by Russian investors. And this Thursday, a new rumor has spread: this time it's the definitive closure for the Laiki. The Cypriot Central Bank denied in the afternoon but, in the ambient climate of anguish, the employees no longer have confidence. By SMS and Facebook, they gave themselves the word: direction the Parliament. The signs are scathing: "We will not be Germany's slaves", "Troika go home", "Where is the solidarity?" (implied of Europe)...
“We are here not just to save our jobs, but our entire financial system, which is doomed to destruction if we give in to what the troika demands,” insists Neoclis, Laiki employee for 33 years. "Europe has done nothing for us, it's time to get out of it." Katerina, a young Cypriot of Russian origin, is just as convinced: “We are here to ask Parliament to leave the European Union and the Eurozone. For nine years that we have been in Europe, it has brought us nothing good. If we get out of it, we will be in default, it will be hard, but at least we will have our heads held high, and we will be able to build.
In the evening, Parliament finally postponed until tomorrow Friday the vote on the solidarity fund project, a key element of plan B that the government must present to the Eurogroup on Monday at the latest, and on the limitation of capital movements for avoid massive withdrawals when banks reopen, currently scheduled for Tuesday. At the same time, the rating agency Standard and Poor's announced that it had lowered Cyprus's debt rating by one notch to “CCC”.
Source (s): Liberation.fr, The Lupus Blog
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