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ORIGINAL: YN

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ORIGINAL: WantsOfTheFlesh
much of russia is in europe. if russians decide to invest in the eu their monies are subject to tha eu in times of crisis.

do ya think tha ruskies would be just as happy to see all their money go down a big giant hole wit the banks all collapsing?

So you blame the victims? The Russians have the BRICs to invest in now, instead of the EU. Certainly they will follow the path of China, and quit buying any EU financial instruments, and quit using the Euro-banks. This being while the EU is begging foreign investment a from across the planet. They cannot QE their way out of the problem, so what then will be their plan to restore financial stability, they can only rob so many offshore investors before none will deal with them.

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And Vincent and tweakabelle laid the blame on the appropriate steps, those of the bankers, who doubtless walk off bonus in hand. Do not ignore the complicity of the governments in the countries harboring these banks either.

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ORIGINAL: YN

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ORIGINAL: Politesub53

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ORIGINAL: YN

That may be true, however the Russian depositors in the questioned bank had nothing to do with bank investment policies, unless you have some evidence otherwise.

Do you really think the Russian who owns 10% of one of the banks holds no sway ?

Do Torys like yourself think that a Russian owning 10% of one bank is responsible for the banks failing in Cyprus?

Your right wing Tory government under your champion Cameron did not follow the same rules and dropped the criminal prosecution of the Tchenguiz brothers regarding their part the failings of the Iceland banks, even though they owned more significant shares (and one was apparently on the board of directors of one of the Icelandic banks) in the Icelandic bank and in fact had drawn billions in loans which which were used in the UK, and which could be seized to pay off the injured English depositors.

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Robert Tchenguiz borrowed £1.25bn from the failed bank to finance deals. He used the funds, borrowed months before the collapse, to buy stakes in companies including Sainsbury's and pubs company Mitchells and Butlers. Robert Tchenguiz also owned a stake in Kaupthing.

So are there two sets of rules and standards used. the lax set the Tory voter applies regarding British banking and financial activities and and the far harsher one which a Tory nationalist applies conduct in other countries?

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ORIGINAL: Politesub53

Unlike your claim that Cameron didnt follow the rules the truth is somewhat different. The SFO dropped the case after there was a judicial review that found they (The SFO and Police) had used evidence that was found to be misinformed and misused. Incase you are still confused, Cameron doesnt run Judicial reviews, the Judiciary do. Cameron also wasnt in office in 2008 so how the fuck the crash here was his fault is beyond me.

If you had pulled your head from your arse and taken off your anti colonial blinkers you could have found any of this in the media. That, my friend, would have been the sensible route for you to take before spouting off........yet again. The Tchenguiz brothers are in the process of suing the authorities here, which should be interesting.

Do you wish to try and answer my question again ....... Do you think the Russian investors in the Cypriot banks held no sway ?

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ORIGINAL: WantsOfTheFlesh

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ORIGINAL: YN

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ORIGINAL: WantsOfTheFlesh
much of russia is in europe. if russians decide to invest in the eu their monies are subject to tha eu in times of crisis.

do ya think tha ruskies would be just as happy to see all their money go down a big giant hole wit the banks all collapsing?

So you blame the victims? The Russians have the BRICs to invest in now, instead of the EU. Certainly they will follow the path of China, and quit buying any EU financial instruments, and quit using the Euro-banks. This being while the EU is begging foreign investment a from across the planet. They cannot QE their way out of the problem, so what then will be their plan to restore financial stability, they can only rob so many offshore investors before none will deal with them.

not a fan of what happened but dont see why tha eu should bail out a lotta money that most sources accept is laundered so it shouldnt have been there in tha first place.

tha ruskies go where they want & yeah assuming some russos didnt launder money they shouldnt be burnt but tha banks in cyprus had mutliples over the countrys gdp. tha money must come from somewhere. why should any tax payers be expected ta bail out it all? either way it comes outta someones pocket. better less comes outta tha workers pocket.


yep already said a lotta responsibility also lies wit tha government wit poor regulation. thing is choices have to be made. i like tha deal coz it aint hitting tha little guys wit less than 100,000 ewwws. burning tha bigger guys means cyprus hasnt as much tax to slap on tha ordinary worker. thought folks would like that but everyone gotta be selective socialists...

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ORIGINAL: YN

Yes the brothers, who owned interests in the Icelandic bank obtained 1.6 billion pounds in loans from their bank, (money largely from the savers in the UK,) and used it to purchase various properties and interests in the UK. A correct statement was that your Tory government dropped the ball, through their gross incompetence, and botched the investigation after the Cameron regime took power.

It is understood these men are now asking for over a billion in compensation, on top of the monies they already acquired.

So according to your Tory thinking, the savers in the UK who lost this money are responsible for the losses, and neither Icelandic banks, nor those operating this scheme are actually responsible.

I see your Osborne has stated the UK will compensate the estimated 60,000 English expatriates, along with those 3000 UK troops in Cyprus for their banking losses, and the British taxpayers will pay the bill.

So do you think the UK people with Cypriot bank accounts are at fault for their losses in Cyprus, like you think the Russians and others were?

Nice seeing how Tory men like you are on top of things in the UK. I am not certain if you should be in your Foreign and Commonwealth Office, running your Serious Fraud Office, or perhaps in charge of the BOE with your expert knowledge of economics, forensic accounting, and foreign affairs.

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ORIGINAL: YN
Certainly. However the credibility of the EU is at question, for if Brussels approves this in one case, they certainly will do so again.

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In this case, the Cypriot banks are in trouble primarily because they bought Greek bonds and took a 75% haircut on them. Both nations are EU members, and both this Cyprus deal, and those of Greece were done under the auspices and blessings of the EU, and the ECB, and both resulted in the loss of billions to investors.

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While it may appear to be convenient to tax (according to reports some will lose 40% of their funds) the Russians and other foreigners who were using the Cypriot banks while leaving the smaller local savers alone, the result will be that offshore investors will not consider using Euro zone banks, or financial instruments, even those issued by EU member state governments, without insurance.

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ORIGINAL: Politesub53

Osborne hasnt guaranteed anyones savings except the armed forces or civil servants. Since both groups are employed by HMG I see this as reasonable. I am unsure why you continue to lie by suggesting Osborne is going to protect ex pats. .

Nice to see you are still trolling and/or talking bollocks. Cameron and the Tories didnt screw anything up, the SFO did. Come back and talk to me when you have got more of a grip on the issue.

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ORIGINAL: YN
As Yachtie noted, this isn't over yet. The Greek domino toppled the Cypriot one.

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And while it may be convenient to discuss the possibility of the money being laundered from Russia as an excuse for seizing it, you do not see them (Cyprus or the EU) turning it over to the Russian Federation, which they would do if they were seizing it on the grounds it really was stolen from Russia.

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A senior eurozone figure on Monday suggested the plan to save Cyprus could serve as a template for rescuing other troubled EU states.

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Jeroen Dijsselbloem, the Dutch chairman of the eurozone, suggested that this structure could become the model to be applied across Europe, where banks in Spain, Portugal and Italy are also in trouble.

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More than 750,000 British expatriates have money in EU bank accounts, including in countries hit by the eurozone crisis such as Spain, Portugal, Italy and Greece.

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ORIGINAL: YN
And while it may be convenient to discuss the possibility of the money being laundered from Russia as an excuse for seizing it,

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ORIGINAL: YN
Yes, this thing in Cyprus will be a nasty bit of work, and as a sign of things to come - Three quarters of a million Britons living in Europe could see their savings raided to help save the European Union's single currency following the Cyprus debt crisis.

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A senior eurozone figure on Monday suggested the plan to save Cyprus could serve as a template for rescuing other troubled EU states.

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Jeroen Dijsselbloem, the Dutch chairman of the eurozone, suggested that this structure could become the model to be applied across Europe, where banks in Spain, Portugal and Italy are also in trouble.

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More than 750,000 British expatriates have money in EU bank accounts, including in countries hit by the eurozone crisis such as Spain, Portugal, Italy and Greece.

Those who don't read this writing on the wall . . .

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ORIGINAL: YN

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ORIGINAL: Politesub53

Osborne hasnt guaranteed anyones savings except the armed forces or civil servants. Since both groups are employed by HMG I see this as reasonable. I am unsure why you continue to lie by suggesting Osborne is going to protect ex pats. .

Nice to see you are still trolling and/or talking bollocks. Cameron and the Tories didnt screw anything up, the SFO did. Come back and talk to me when you have got more of a grip on the issue.

Apparently again I know more about what goes one in your country then you do.


And now you claim the SFO isn't a part of the UK government which Cameron heads in the name of the Tory, so just who do they answer to, since Cameron isn't their superior?

If the Obama administration in the United States so totally and miserably failed in prosecuting several thieves who made off with several billion USD (and even was suing be to paid a billion or so more for charging them) this board would be filled with the matter.

(I note certain cynical English blogs claim the get out of jail free card issued the Tchenguiz brothers for their roles in this theft was not due to police malfeasance.)

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ORIGINAL: Politesub53


No you dont know more than me, or you would have backed up your claim about Osborne. I can only suspect your goggle is fucked, or more likely it disproves your earlier claim that Osborne will bail out ex pats.

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Now getting onto Cameron and the judiciary.... Firstly it is independent of Parliament, you do know what independent means right ?

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Secondly, the collapse took place under Labour, so even if your claim about the Chancellor had merit, which it doesnt, Osborne and Cameron were not involved in the decision making.

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I am sorry all of this doesnt tie into your marxist idealism but I am more sorry that you continue to be an arsehole with your blatant lies..

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Reuters journalists estimated up to 3,000 high school students protested outside parliament, the first major expression of popular anger after Cyprus agreed the 10 billion euro ($13 billion) bailout with the European Union.

"They've just gotten rid of all our dreams, everything we've worked for, everything we've achieved up until now, what our parents have achieved," said a student who gave his name as Thomas.