03/20/13

Permalink EU Stiff-Arms Cyprus After Country Says 'No' To Bank Bailout Deal

Eurogroup President Jeroen Dijsselbloem's response to the Cypriot parliament's decision to totally reject the Cypriot bank bailout deal today is only two sentences, and it offers no help at all:

I take note of the decision of the Cypriot parliament on the government's proposal for a oneoff stability levy. I confirm that the Eurogroup stands ready to assist Cyprus in its reform efforts and reiterate the position of the Eurogroup as I stated yesterday.

Wolfgang Schaeuble, the German finance minister, is of course a major power player in all of the EU bailout negotiations. His statement on the Cypriot parliament's decision to vote no on the deal today was similarly unhelpful. Cyprus is clearly in a bind, and it doesn't look like the EU has much figured out on what to do next.

SHTFplan.com: CONFISCATION: Panicked Europeans Rush ATMs as Leaders Move To Seize Funds Directly From Bank Account Holders
Zero Hedge: Nigel Farage Message To Europeans: "Get Your Money Out While You Can"
Daily Mail: Russia 'offers to write off debt if Cyprus opens up untapped oil fields to Gazprom
Cyprus Mail: Deputies throw out bailout deal
PressTV: Cypriot parliament rejects EU-IMF bailout tax on bank deposits
Russia Today: Cypriot parliament votes against deposit levy
Stephen Lendman: Grand Theft Cyprus
AWIP: ‘Blackmail has replaced solidarity’

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