Cyprus Gov Backs Off Stealing From Citizens to Pay For IMF Bailout

The Truth Behind The News

Susanne Posel
Occupy Corporatism
March 21, 2013

The plan to steal money from customer bank accounts to pay for the bailout provided by the International Monetary Fund has been rejected by the Cypriot government. This leaves on 24 hours for the governmental officials to come up with another answer to the pending financial destruction incited by the Eurogroup, the European Central Bank (ECB) and the IMF.

Cyprus is expected to raise the €5.8 billion to cover the total bailout of €17 billion.

In response to the anticipated negative reaction by Cypriots to the bailout and syphoning of their personal cash, 3,000 British soliders were deployed to Cyprus by George Osbourne with the assistance of the Ministry of Defense (MoD) as a “contingency measure” to protect technocrats in Cyprus.

The Russian government has loaned Cyprus €2.5 billion and several Cypriot banks have Russian deposits in them which is expected to be raided by the central bankers through this bailout.

Cypriot President Nicos Anastasiades continues to decry that a Plan B will be implemented; however Anastasiades was quick to support the bailout and syphoning of customer funds from private bank accounts over the past weekend.

At the time, Anastasisades asserted that the government had no other option; with regard to accepting the bailout. He claimed that his country was in a state-of-emergency.

Anastasisades said the European Central Bank (ECB) was threatening to halt much needed money which would have crippled Cyprus banks further and confirmed the expected financial collapse.

This levy would rescue the banking institutions. The decision to allocate private banking deposits from customer accounts was made to ensure that billions of dollars would be salvaged. The government estimates that due to the deposit levy €5.8 billion will be acquired from the people of Cyprus.

Customers with less than €100,000 will be charged a one-time tax of 6.75% while those with more money in their account will be charged 9.9% until the bailout money is recouped.

Banks in Cyprus have asserted that they will remain closed throughout this crisis. As the citizens emptied their bank accounts and forced banks to close their doors to keep from being drained dry, a clear message was sent to the technocratic rulers.

Wolfgang Schaeuble, finance minister of Germany said that the banks of Cyprus are insolvent and without bailout funds, they will not have “emergency” money to fall back on.

Chancellor of Germany Angela Merkel disseminated a veiled threat in saying that she “regret[s] the vote of the [Cypriot] parliament. . . But of course we respect it and will now look to see what proposals Cyprus makes. From a political point of view, I say that Cyprus needs a sustainable banking sector. Today’s banking sector is not sustainable.”

Russian investors have allegedly purchased the Cyprus Popular bank. The Popular Bank was acquired by the Cypriot government in 2012.

Economist Ivan Tchakarov explained that the Kremlin was upset about the plan by the IMF and ECB to destroy Cyprus financially. Tchakarov said: “This situation presents a fantastic opportunity for Russia and even President Putin to take moral high ground and to extend another loan to Cyprus and to become a savior of Europe. At the end of the day we’re only talking about an additional seven to eight billion dollars of additional money that is needed to have a complete package for Cyprus; this is small change for Russia.”

In fact, the Russian government outright condemned the deposit tax imposed by the Cypriot government because of the manipulation of Russian individuals and corporations residing in the country who would be punished by the technocrats.

Michael Sarris, finance minister of Cyprus and Anton Siluanov, finance minister of Russia met to discuss a 5 year extension of the €5 billion to be loaned to Cyprus at a low interest rate to stave off the technocrats.

In exchange for the loan, George Lakkotrypis, minister of energy of Cyprus, has offered offshore gas reserves in waters separating their country and Israel to Moscow to aid in compensation.

Joerg Asmussen, chief negotiator for the ECB threatened to converge on Cypriot banks unless they come up with the cash quickly.

Asmussen retorted: “We can provide emergency liquidity only to solvent banks and… the solvency of Cypriot banks cannot be assumed if an aid program is not agreed on soon, which would allow for a quick recapitalization of the banking sector.”

While banks in Cyprus have not opened and will not indefinitely, ATM machines are being “replenished” to give citizens access to their funds. This is buying time for the Cypriot government to conceive of a Plan B that does not include the technocrat’s taking over their nation.

Stocks on the global market have been undeterred by the schemes of the technocrats over Cyprus. Banksters in the US are anticipating that the IMF and ECB will come to a resolution over Cyprus and are not concerned.

The Federal Reserve Bank is continuing to purchase bonds as a credit system to pass fiat between each other to prop up the financial markets that effect the global markets. Investors in the ECB are panning on the liquidation of Cypriot banks as the European Union bailout is still being forcibly “suggested” as the answer for Cyprus.

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