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Bailout approved! - The Cyprus Situation Room
03-24-2013, 02:38 PM #106
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Cyprus Deposit Levy Vote Delayed, Will Go "Down To The Wire" As Up To 70% Deposit Tax Contemplated For Some

70% 13.gif lots of rumors going around about just how much Russian money is in Cyprus. If the EU goes ahead with this Europe can prepare for a very cold winter.
03-24-2013, 02:51 PM #107
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
That's insanity! This is war! damned.gif
03-24-2013, 02:55 PM #108
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
iagree.gif they aren't stupid though, they know Putin can't be shoved around. Check this out lolz

Why did JPMorgan open a liquidity/money market fund in Cyprus one month before the banking crisis

13.gif
03-24-2013, 03:00 PM #109
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
That's interesting. 13.gif Good find!
03-24-2013, 03:03 PM #110
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Considering they (JPM) had closed every MMF in Europe last April. Could be Merkel behind it, if she goes down the EU is toast. Burnt toast.
03-24-2013, 03:27 PM #111
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
Interesting article I found:

Cypriot Bailout Linked to Gas Potential
Quote:Gas exploration has taken this dispute to a new level, with Turkey sending in warships to halt drilling in 2011, and threatening to bar foreign companies exploring in Cyprus from any license opportunities in Turkey. The situation is likely to intensify as Noble prepares to begin exploratory drilling later this year in Block 12.

In the meantime, there is no shortage of competition on this arena. Cyprus will have to vie with Israel, Lebanon and Syria—all of which have made offshore gas discoveries of late in the Mediterranean’s Levant Basin, which has an estimated total of 122 trillion cubic feet of gas and 1.7 billion barrels of oil.

Related article: Turkish and Cypriot Relations Sour Due to New Gas Field

Blackmailing Cyprus?

While Greek Cypriot citizens are not willing to gamble away their savings on gas futures, Russia and the European Union are certainly less hesitant.

This is both a negotiating point for Cyprus and a convenient tool of blackmail for Russia and the EU. Essentially, the bailout is the prop on a stage that will determine who gets control of these assets.

Theoretically, Cyprus could guarantee Russia exploration rights in return for assistance. As much as this is possible, the EU could ease its bailout negotiations if it becomes clear that a Russian bailout of sorts is imminent.

Gas finds in the Mediterranean and particularly across the Levant Basin—home to Israel’s Leviathan and Tamar fields—could be the answer to Russian gas hegemony in Europe. The question is: How much does Cyprus count in this equation? A lot.

Though only half of the estimated resources in the Levant Basin, Cyprus’ potential 60 trillion cubic feet of gas could equal 40% of the EU’s gas supplies and be worth a whopping $400 billion if commercial viability is proven.

Russia is keen to keep Cyprus and Israel from cooperating too much toward the goal of loosening Russia’s grip on Europe before Moscow manages to gain a greater share of the Asian market.

Russia is also not keen on Israel’s plan to lay an undersea natural gas pipeline to Turkey’s south coast to sell its gas from the Leviathan field to Europe. Turkey hasn’t agreed to this deal yet, but it is certainly considering it. This is fraught with all kinds of political problems at home, so for now Ankara is keeping it as low profile as possible.

With all of this in mind, Russia is doing its best to get in on the Levant largesse itself. While it’s also courting Lebanon and Syria, dating Israel is already in full force. Gazprom has signed a deal with Israel that would give it control of Tamar’s gas and access to the Asian market for its liquefied natural gas (LNG). Tamar will probably begin producing already in April at a 1 billion cubic feet/day capacity.

Read the whole article here:
http://oilprice.com/Energy/Natural-Gas/C...ntial.html
03-24-2013, 03:30 PM #112
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
This one went under the radar 13.gif

On Thursday, Russian President Vladimir Putin welcomed a European Commission delegation led by its President Jose Manuel Barroso. The two sides discussed future relations between Russia and the European Union.

Putin and Barroso discuss future relations between Russia and EU

Seems Barroso is tptb of the eu. So whatever Barroso and Putin decided is going to happen and Cyprus is just a passenger.
03-24-2013, 03:36 PM #113
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
Interesting. I hadn't read that either. 13.gif
03-24-2013, 03:36 PM #114
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Quote:Russia is keen to keep Cyprus and Israel from cooperating too much

I'll say.

Gazprom Signs 20-Year LNG Purchase Deal with Israel

And why did Berezovsky die now?
03-24-2013, 03:38 PM #115
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
Read that article I posted above.

yup.gif
03-24-2013, 03:42 PM #116
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(03-24-2013, 03:36 PM)Octo Wrote:  Interesting. I hadn't read that either. 13.gif


The Cyprus FinMin was in Moscow then too rofl.gif
03-24-2013, 03:45 PM #117
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
Meanwhile in Finland:

Quote:Discussions at the informal convention – dubbed "Lapland Retreat 2013" – will focus on the future of Europe.

The meeting’s organisers say that the aim is to bring European leaders together, in an informal and leisurely way, to discuss issues concerning the future of Europe and the European Union .

According to the Ministry for Foreign Affairs, the agenda will not include topical issues and the meeting will not be making decisions or guidelines.

The Lapland Retreat 2013 will be attended by Estonian President Toomas Hendrik Ilves, Latvian Prime Minister Valdis Dombrovskis, Dutch Prime Minister Mark Rutte, Danish Prime Minister Helle Thorning-Schmidt, Croatian Prime Minister Zoran Milanović, Turkish Deputy Prime Minister Ali Babacan, Irish Minister of State for European Affairs Lucinda Creighton, Spanish Secretary of State for the European Union Íñigo Méndez de Vigo, and member of the Executive Board of the European Central Bank Jörg Asmussen.

http://yle.fi/uutiset/european_leaders_i...at/6549335

coffeetime.gif
03-24-2013, 03:49 PM #118
DaJavoo If looks could kilt
Posts:1,851 Threads:45 Joined:Mar 2011
Lots of threads being pulled here.

Not surprising the focus is on LNG ~ it's the only thing Cyprus has going for it and it really looks at this point that the EU/IMF faction overplayed its hand with the bank deposits tax.

Israel already has a contract with Cyprus on the LNG field (30%) and France does, too. Meanwhile, the deal with Gazprom with Israel is not what I would have expected...I've got to dig around on that one.

SHADOW: I couldn't find the exact article you were linking to about JPM/MMFs ~ can you repost the link, please? TIA
03-24-2013, 03:52 PM #119
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
(03-24-2013, 03:38 PM)Octo Wrote:  Read that article I posted above.

yup.gif


I did, I quoted part of it. Cypriot LNG developement contracts are a large part of this mess but they're playing with nitroglycerine. I doubt Cyprus will collapse Tuesday because this is all scripted but they've woke the sheepsies by threatening their savings. Sheepsies can watch ____ idol and ignore much of what's going on but when it affects them personaly, when the money is right out of their pockets, then they'll panic. Too late. I think Tuesday will bring capital controls EU wide and then we're in full collapse mode. I don't know how they can put out that fire.
03-24-2013, 03:54 PM #120
Octo Mother Superior
Posts:42,609 Threads:1,469 Joined:Feb 2011
No I don't see any way this could end well. drinking.gif



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