Massive Demonstrations Rock Cyprus – E.U. Banksters Steal Billions From Depositor’s Accounts – Parliament Shut Out of Process
The bullies of the so-called “Troika” have signed a piece of paper that they are calling an “agreement” with the new rightist President of Cyprus, Nicos Anastasiades that reorganizes the banking system of Cyprus. The Cypriot Parliament was totally shut out of the process – the voice of the peoples’ representatives silenced and ignored in one of the most heavy-handed operations yet mounted by the European banks and Bilderberg ruling class.
And in one of the most cynical statements made yet this year, Daniel Gros, from the Centre for European Policy Studies, in an interview with Euronews, said that “It was necessary to have some theatre”, letting the Cypriot Parliament to say “no” to the first bailout offer. Then a second deal was signed by the President with the “Troika”, with no vote from the Parliament at all. This is a cynical admission that the entire process is being stage-managed by the euro banksters.
Good Bank vs Bad Bank
The deal as forced on Cyprus is the most onerous that can be imagined for the middle class, the poor, and small business, as well as some of the wealthy and foreign investors. The “Troika” has seized the Second largest bank in Cyprus, the popular Laiki Bank, and divided it into 2 parts, a “good bank” where all deposits under euro 100,000 were transferred and will be given to the remaining Bank of Cyprus, and a “bad bank” which will carry all the debt and derivitives, plus all the accounts that have over euro 100,000. The depositors who have money in the “bad bank” will be subject to a loss of their funds of up to 40% of their accounts. ECB appointed Bank Gov. Panicos Demetriades, who is also on the ECB board, said that the funds transferred to the “bad bank” will be used to pay off bad debt. In addition, the bond-holders of the Laiki Bank will likely suffer a 100% loss and the bond-holders of the Bank of Cyprus will also take a heavy loss.
Food Markets Slump 50%
The fresh fruit and vegetable markets have dropped 50% in sales. A Euronews video reported that the poor people have been hit hard, now only affording to buy potatoes, just the basics. The banks were completely shut down on March 16th, throwing the population into chaos, with no money to buy anything. On Sunday, March 24th, currency controls allowed a withdrawal of only 100 euros per day. Not only have mass demonstrations rocked the island, but the employees of the now closed Laiki Bank tried to storm the bank. Police kept the employees out by using force. These employees will now be out of work permanently.
In a recent interview, Eurogroup Chief Jeroen Dijsselbloem, said that Cyprus is being used as a “model” for future operations of the ECB that might be put on to other countries, probably referring to the problems of the “P.I.G.” nations. This admission caused an uproar in the E.U. as the ruling elites were upset that the Eurogroup Chief had let the cat out of the bag, so to speak.
With the collapse of the financial system, Cyprus now faces a rolling crises, poverty, unemployment, business failure, and a total dissolution of trust in the banking system. Now the entire world knows that their deposits in any bank can evaporate in an instant. Likewise the investors in the banks themselves, the shareholders and bondholders can easily be hung out to dry by the big Central Banks. Meanwhile, the Wall Street derivatives peddlers who caused all this get off scot free.