PUTIN – “BETTER PUT A GERMAN FLAG AT THE PRESIDENTIAL PALACE”

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Posted on 18th March 2013 by Administrator in Economy |Politics |Social Issues

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The translation is a little messy, but you’ll get the point. Germany and Russia – Fourth Turnings happen every 80 years. Guess what time it is?

http://translate.google.es/translate?hl=es&sl=auto&tl=en&u=http://www.kourdistoportocali.com/articles/19408.htm

 

9 Comments

  1. Stucky says:

    The article below is from Germany’s magazine. “Der Spiegel”. German bankers, they do the craziest things.

    ===============================================

    03/18/2013

    Saving Cyprus: Tapping Bank Customers Is the Right Move

    A Commentary By Christian Rickens

    The move in Cyprus to apply a one-time levy on all bank accounts is both a fair and pragmatic way of easing the country’s debt burdens. It also marks the start of a new phase in the euro crisis that could have implications for future bailouts.

    When historians look back on the euro crisis decades from now, they will likely speak of March 16 as the beginning of its fourth phase. Pressured by the other euro-zone member states, Cyprus is being forced to partially expropriate the funds of banking customers to assist in the country’s financial restructuring. This after Cyprus was essentially sucked into the crisis because of its bloated banking sector.

    It’s a dramatic forced measure, and it won’t just hit the pockets of Russian oligarchs who are fond of depositing their money at banks on the Mediterranean island. It will also burden average Cypriot savers. Accounts are being partially frozen, and a vote on a hastily drafted expropriation law is expected in parliament on Monday. And what scenes will unfold when the country’s banks reopen their doors on Tuesday? Quite possibly those more associated with crisis-ridden South American countries than Southern European ones.

    Still, forcing savers to participate in the bailout is a further step towards greater pragmatism and fairness that has also marked the other important milestones in the euro crisis.

    In the beginning, during phase one, the belief that the crisis could be overcome solely with credit guarantees and austerity programs prevailed. In other words, taxpayers within the euro zone were to carry all the burdens. It’s a position governments had been pressured to take by financial industry lobbyists. But it’s also a path that led to lasting recession in the south and sewed strife between Northern and Southern Europe.

    Phase two of the crisis began with the Greek debt haircut and the recognition that the country’s creditors also had carry their part of the burden. All of the banks and insurance companies that had so carelessly lent money in Southern Europe finally had to pay up.

    A now legendary speech by Mario Draghi, the head of the European Central Bank (ECB) marked the start of phase three. In autumn 2012, he announced that crisis-plagued countries that have undertaken reforms would be provided with ECB support via the purchase of unlimited amounts of sovereign bonds. The move violated all established monetary policy principles in Europe, but proved to be correct and pragmatic during a period of existential threat to the common currency.

    Breaking the Next Taboo

    And now comes the partial expropriation of bank customers. The move is little more than a symbolic contribution to solving the Cyprus crisis, but it sends an important message: For Europe’s taxpayers, it is a question of fairness that they not be left alone to bear the burdens of the costs of the crisis. And it is the only way to prevent the euro crisis from further fomenting anti-EU sentiment in the member states.

    For the people of Europe it is a question of fairness. For the politicians seeking to end the crisis, it is one of pragmatism. Taxpayers alone will not be able to buy Europe out of its debt trap. And those who want to solve the problems in the euro zone need to access the money where it can be found: through bondholders, through the ECB, through banking customers and, hopefully, as a next step through the owners of troubled banks, as well as wealthy people living in Southern Europe.

    The next taboo-breaking measures are already taking shape on the horizon. Spain is soon expected to use billions in guarantees from the long-term euro rescue fund, the European Stability Mechanism (ESM), to rescue its flagging banks. It will be crucial that the shareholders and creditors of these banks also be drawn into the bailout. Italy could also relieve some of its debt problems if the government finally took the step of implementing a wealth tax that would require the country’s richest to contribute to solving the crisis.

    Fearing that tapping any of these potential sources of money could have disastrous consequences on the financial markets, many in the past have argued they should be categorically ruled out. But each time that position has proven untenable.

    http://www.spiegel.de/international/europe/commentary-tapping-bank-customers-is-the-right-move-in-cyprus-a-889476.html

    Like or Dislike: Thumb up 2 Thumb down 3

    18th March 2013 at 12:07 pm

  2. Stucky says:

    It does not appear the Russians have clean hands. They use Cyprus like a giant washing machine … laundering billions of their ill gotten gain there.

    http://www.spiegel.de/international/europe/tax-haven-reputation-plagues-eu-bailout-of-cyprus-a-877369.html

    Like or Dislike: Thumb up 3 Thumb down 1

    18th March 2013 at 12:14 pm

  3. Stucky says:

    For those of you who didn’t read the copy and paste article … here is a stunning comment;

    “It will be crucial that the shareholders and creditors of these banks [SPAIN] also be drawn into the bailout. ITALY could also relieve some of its debt problems if the government finally took the step of implementing a wealth tax …”

    Soooo … the citizen of Spain and Italy could be next in line having their savings STOLEN. And, Portugal. And the dominoes start to fall ….

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 0

    18th March 2013 at 1:26 pm

  4. ecliptix543 says:

    It really burns my ass when I read such statements of this being a “fair” way to spread out the pain of bailouts. Fair? In what fucking world is it fair to steal from regular people – you know, the ones who have been shit upon their entire lives by these banksters – just because they happen to have had what scraps of a life’s savings they could muster in the same banks as the alleged Russian mafias? So what if there was laundered money in those banks? Who gives a rat’s ass? Was EVERYONE’S money being laundered? NO. This is so sickeningly similar to the argument that it’s okay if a few innocent people get knocked off by the death penalty, as long as we get a bunch of bad ones too.

    VOMIT.

    Well-loved. Like or Dislike: Thumb up 13 Thumb down 0

    18th March 2013 at 2:53 pm

  5. chen says:

    fair is defined as conforming to established rules. if the rules are changed to say savings accounts are now taxable, it’s fair to tax savings. no one said it was just or right.
    a child’s definition of fair is when said child gets his way. when the kid doesn’t get his way you hear loud screams, it’s not fair!
    when you fall for their definition of a situation, that grabbing money from everyone’s savings account is fair, you are going to lose.

    here’s an illustration: my buddy mike says a guy was trying to seduce a young lady when her boyfriend appeared. hey, that’s my girlfriend!
    says the seducer, oh yeah? so why are you cockblocking?

    Like or Dislike: Thumb up 0 Thumb down 0

    18th March 2013 at 3:21 pm

  6. Stucky says:

    chen

    Here’s a new rule; I want you to choke your chicken before posting. Fair enough?

    Like or Dislike: Thumb up 3 Thumb down 0

    18th March 2013 at 4:56 pm

  7. Administrator says:

    Putin is not happy with the new plan.

    putin.jpg

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    18th March 2013 at 5:00 pm

  8. ecliptix543 says:

    Yep… The EU just showed their pasty white asses to the former head of the KGB. Not too smart.

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    18th March 2013 at 10:48 pm

  9. Dave Doe says:

    Don’t steal from the Russians – They hate competition and will get even.

    The Russian State has been in the theft business a long time and doesn’t want the EU to start targeting it as a revenue source.

    Let the games begin.

    Like or Dislike: Thumb up 3 Thumb down 0

    18th March 2013 at 9:43 pm

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