So we are waiting for a while for somehting to happen. By now most people think, anything, I just want to know!! And we can not blame them for this. Its been a rough week in Cyprus and things are not getting better. I dont want to rewrite like everybody else for the hundredth time what`s going on, Im pretty sure everybody know by now. But lets see what happend since Thursday.
So first they said they will have a plan B and vote on it by Thursday, of course this didn`t happen. Then they said on Friday they will vote on it, this didn`t happen either ( if only there would be a punishment for missing deadlines, I wonder why is it that if I miss a deadline in school or in work I get punished and lectured, they don't... Well....). Though on friday the Cyrpian parilament did vote on some things. A total of nine bills and the main context is:
Solidarity fund, isn't it a nice name? Just to pull a little resemblence, in my previous post I was talking a bit about Hungary, when there they tricked people out of their pension funds everybody was so angered, not just in Hungary, but all over Europe, everybody was saying it wasn't correct, the government shouldn't have done this, but by now this isn't the first time, that a government touches a pension fund, so its OK, right? You see, if there is an experiment going on in one country, like Hungary with the pension funds, or Greece with the salary cuts and people take it, then they think its perfectly alright to do it everywhere else to.
And then the beauty of the votes, its the capital control. First they close the banks down preventing people from accessing their money, and now even if they do reopen they wont be able to take their money out of the country. Isn't politicians smart? They know, that there is probably not a lot of people left who after all this would trust a bank with their savings, and they know as soon as the banks reopen, there will be mass withdrawal (even if they try to say something else in the news and newspapers, just think what you would do!), so to prevent this they tell you: you cant take it out. Nice move, they are really trying to save those Cypriot banks.
In the meantime Russia very polity said, well thanks but not thanks. So there is no new loan coming from Russia, even though they offered them part of their gas reserves ( the ones, that they would come in active in 2020, and also Turkey warned over them, that hey we would have a world or two if you do that) and also they didn't loosen the payments of the previous loan Cyprus received from Russia in 2011.
However, after public blame has been put on Greece for bankrupting Cyprus, Greece is offering a helping hand ( as we say where I come from, the blind is leading one with no eyes(no offense meant for anybody)). So Greece`s Pireus Bank offered to take over the local units of the Cypriot banks. What a helping hand, no? I`m sure now all the problems of the banks are solved.
Also as I mentioned before life is getting harder in Cyprus, since some cash withdrawals have been limited to 260 euro/day. In most places they don't accept cards anymore and people are getting more and more frustrated and scared. Though I can not blame them a bit.
But regardless of everybody wandering whats happening behind closed doors, we don't know yet anything. We heard ideas about how they are going to get the money, but we haven't heard this Plan B as it is. I am guessing they don't want to anger the public anymore, so we are only going to know more after they have voted on it, and then there will be little people can do about it. There is still today and tomorrow for the parliament to figure out some way ( maybe they should robe a banks :-) ), because monday is a national holiday in Cyprus.
Oh, before I forget, nice things happen in the world, every country has national holidays and if we are lucky they happen to be on weekdays, which means like in this case that we get to have a long weekend. Its like a mini vacation, except, when they ruin it for you, like now in Cyprus.
So back to where we were, so Monday its not just a national holiday, but also the deadline with which the ECB is threatening. So this is going to be one of the longest weekends ever in waiting I think, and by next Tuesday we will see what they decide. I just truly wish they wouldn't play with our heads like this, because we all know that things are already decided, they just like the suspense...but this isn't a movie, and if it was I would just forward to the end of it, just to know!
So first they said they will have a plan B and vote on it by Thursday, of course this didn`t happen. Then they said on Friday they will vote on it, this didn`t happen either ( if only there would be a punishment for missing deadlines, I wonder why is it that if I miss a deadline in school or in work I get punished and lectured, they don't... Well....). Though on friday the Cyrpian parilament did vote on some things. A total of nine bills and the main context is:
- Restructuring of the banking sector, starting with the most troubled bank of all - Laiki Bank, the country's second largest
- The creation of a solidarity fund: nationalising pension funds and other state assets
- The approval of capital controls to prevent large fund withdrawals out of Cyprus
Solidarity fund, isn't it a nice name? Just to pull a little resemblence, in my previous post I was talking a bit about Hungary, when there they tricked people out of their pension funds everybody was so angered, not just in Hungary, but all over Europe, everybody was saying it wasn't correct, the government shouldn't have done this, but by now this isn't the first time, that a government touches a pension fund, so its OK, right? You see, if there is an experiment going on in one country, like Hungary with the pension funds, or Greece with the salary cuts and people take it, then they think its perfectly alright to do it everywhere else to.
And then the beauty of the votes, its the capital control. First they close the banks down preventing people from accessing their money, and now even if they do reopen they wont be able to take their money out of the country. Isn't politicians smart? They know, that there is probably not a lot of people left who after all this would trust a bank with their savings, and they know as soon as the banks reopen, there will be mass withdrawal (even if they try to say something else in the news and newspapers, just think what you would do!), so to prevent this they tell you: you cant take it out. Nice move, they are really trying to save those Cypriot banks.
In the meantime Russia very polity said, well thanks but not thanks. So there is no new loan coming from Russia, even though they offered them part of their gas reserves ( the ones, that they would come in active in 2020, and also Turkey warned over them, that hey we would have a world or two if you do that) and also they didn't loosen the payments of the previous loan Cyprus received from Russia in 2011.
However, after public blame has been put on Greece for bankrupting Cyprus, Greece is offering a helping hand ( as we say where I come from, the blind is leading one with no eyes(no offense meant for anybody)). So Greece`s Pireus Bank offered to take over the local units of the Cypriot banks. What a helping hand, no? I`m sure now all the problems of the banks are solved.
Also as I mentioned before life is getting harder in Cyprus, since some cash withdrawals have been limited to 260 euro/day. In most places they don't accept cards anymore and people are getting more and more frustrated and scared. Though I can not blame them a bit.
But regardless of everybody wandering whats happening behind closed doors, we don't know yet anything. We heard ideas about how they are going to get the money, but we haven't heard this Plan B as it is. I am guessing they don't want to anger the public anymore, so we are only going to know more after they have voted on it, and then there will be little people can do about it. There is still today and tomorrow for the parliament to figure out some way ( maybe they should robe a banks :-) ), because monday is a national holiday in Cyprus.
Oh, before I forget, nice things happen in the world, every country has national holidays and if we are lucky they happen to be on weekdays, which means like in this case that we get to have a long weekend. Its like a mini vacation, except, when they ruin it for you, like now in Cyprus.
So back to where we were, so Monday its not just a national holiday, but also the deadline with which the ECB is threatening. So this is going to be one of the longest weekends ever in waiting I think, and by next Tuesday we will see what they decide. I just truly wish they wouldn't play with our heads like this, because we all know that things are already decided, they just like the suspense...but this isn't a movie, and if it was I would just forward to the end of it, just to know!
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