Bad News for Global Citizens:Cyprus too afraid to kick-out the currency slavers

Looks like the government of Cyprus -that does not represent the best interests of the people as most present governments do not- was too afraid to save the citizens from currency slavery. Read all about this horrible NEWS below.

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Cyprus reaches last-minute deal on 10 billion euro bailout

By Jan Strupczewski and Michele Kambas | Reute

BRUSSELS/NICOSIA (Reuters) – Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout.

The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the International Monetary Fund.

Without a deal, Cyprus’s banking system would have collapsed and the country could have become the first to crash out of the European single currency.

Swiftly backed by euro zone finance ministers, the plan will spare the Mediterranean island a financial meltdown by winding down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shifting deposits below 100,000 euros to the Bank of Cyprus to create a “good bank”.

Deposits above 100,000 euros in both banks, which are not guaranteed under EU law, will be frozen and used to resolve Laiki’s debts and recapitalize Bank of Cyprus through a deposit/equity conversion.

The raid on uninsured Laiki depositors is expected to raise 4.2 billion euros, Eurogroup chairman Jeroen Dijssebloem said.

Laiki will effectively be shuttered, with thousands of job losses. Officials said senior bondholders in Laiki would be wiped out and those in Bank of Cyprus would have to make a contribution.

An EU spokesman said no across-the-board levy or tax would be imposed on deposits in Cypriot banks, although the hit on large account holders in the two biggest banks is likely to be far greater than initially planned. A first attempt at a deal last week collapsed when the Cypriot parliament rejected a proposed levy on all deposits.

UNFORESEEABLE CONSEQUENCES

Cyprus government spokesman Christos Stylianides said: “We averted a disorderly bankruptcy which would have led to an exit of Cyprus from the euro zone with unforeseeable consequences.”

Asked about the level of losses on uninsured depositors in Bank of Cyprus, he told state radio: “The assessment is that it will be under or around 30 percent.”

The Cyprus central bank said the agreement had also avoided the disorderly default of Laiki Bank.

Among Cypriots, there was a mood of wariness about the deal.

“How long will it last?” asked Georgia Xenophontos, 23, a hotel receptionist in Nicosia. “Why should anyone believe anything this government says?”

But many in the capital appeared intent on enjoying a sunny holiday morning, drinking coffee at pavement cafes and watching camera crews filming people drawing money from bank machines.

German Finance Minister Wolfgang Schaeuble said Cypriot lawmakers would not need to vote on the new scheme, since they had already enacted a law on procedures for bank resolution.

At a news conference in Berlin, Schaeuble said the agreement was “much better” from Germany’s perspective than the deal last week that would have hit small depositors and was rejected by the Cypriot parliament.

The new deal offers the country the best chance of getting back on its feet, Schaeuble said.

Anastasiades is expected to make a statement at some point after his return to Cyprus at 1:30 p.m. EDT.

Lefteris Christoforou, vice-chairman of the ruling Democratic Rally party, said it was important that Cyprus had avoided a chaotic bankruptcy. “It is a bad deal, but the extreme scenario we had to contend with was worse.”

RESIGNATION THREAT

A senior source in the Brussels talks said Anastasiades threatened to resign at one stage on Sunday if pushed too far.

The Conservative leader, barely a month in office and wrestling with Cyprus’s worst crisis since a 1974 invasion by Turkish forces split the island in two, was forced to abandon his efforts to shield big account holders.

Diplomats said the president had fought hard to preserve the country’s business model as an offshore financial center drawing huge sums from wealthy Russians and Britons but had lost.

The EU and IMF required that Cyprus raise 5.8 billion euros from its banking sector towards its own financial rescue in return for 10 billion euros in international loans. The head of the EU rescue fund said Cyprus should receive the first emergency funds in May.

IMF chief Christine Lagarde said the agreement was “a comprehensive and credible plan” that addresses the core problem of the banking system.

“This agreement provides the basis for restoring trust in the banking system, which is key to supporting growth,” she said in a statement.

With banks closed for the last week, the Central Bank of Cyprus imposed a 100-euro daily limit on withdrawals from cash machines at the two biggest banks to avert a run.

French Finance Minister Pierre Moscovici rejected charges that the EU had brought Cypriots to their knees, saying it was the island’s offshore business model that had failed.

“To all those who say that we are strangling an entire people … Cyprus is a casino economy that was on the brink of bankruptcy,” he said.

The euro gained against the dollar on the news in early Asian trading.

Analysts had said failure to clinch a deal could have caused a financial market sell-off, but some said the island’s small size – it accounts for just 0.2 percent of the euro zone’s economic output – would have limited contagion.

Cyprus’s banking sector, with assets eight times the size of the economy, has been crippled by exposure to Greece, where private bondholders suffered a 75 percent “haircut” last year.

Without a deal by the end of Monday, the ECB said it would have cut off emergency funds to the banks, spelling certain collapse and potentially pushing the country out of the euro.

Under the bailout agreement, Laiki’s ECB funds will pass to Bank of Cyprus, and the central bank will “provide liquidity to BoC in line with applicable rules”.

Anticipating a run when banks reopen on Tuesday, parliament has given the government powers to impose capital controls.

On Tuesday, the 56-seat parliament had rejected a levy on depositors, big and small. Finance Minister Michael Sarris then spent three fruitless days in Moscow trying to win help from Russia, whose citizens and companies have billions of euros at stake in Cypriot banks.

The tottering banks held 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros – enormous sums for an island of 1.1 million people that could never sustain such a big financial system on its own.

(Additional reporting by Luke Baker, John O’Donnell, Robin Emmott, Philip Blenkinsop and Rex Merrifield in Brussels, Michele Kambas, Karolina Tagaris, Costas Pitas in Nicosia and Lionel Laurent in Paris. Writing by Paul Taylor, editing by Giles Elgood and Will Waterman)

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How much longer will the constructed economies based upon valueless currency manufactured by these privately owned banks be tolerated? They own all of this currency and must be told to take it and go as they are kicked out of every country and eliminated from this Planet. They continue their strangle-hold on the public by manipulation through the media (that they own) and through the continued use of graft, greed and organized crime. We owe it to the Globe to continue to do our best to awake the population to the sad reality that there is no longer any need of this system to exist. All poverty, famine, disease and warfare is also a construct that is employed through those who gain by the continued enslavement of the population through this valueless currency manufactured by these privately owned banks. Soon the next level of Human Civilization will be introduced to the Globe by the New Global Communist Party.

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FANTASTIC NEWS IN PORTUGAL: Will this government finally bow to the Will of the People or will it Kowtow to the Currency Slavers as did Cyprus?

This is exciting news for so many of us who await with bated breath the final collapse of Europe and the eventuality of the end of the currency slavers and their reign of valueless, mass-produced currency, invented debts, taxes and inflation. It will be not too much longer before all banks are shut down and with them goes this system of slavery.
To learn all about the next Global Government read about “The New Global Communist Party” be sure to copy the manifesto and distribute it for free in your country. This is again great news for so many of us.

read it below

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Portuguese government may teeter if court blocks austerity

Reuters By Andrei Khalip | Reuters – Thu, 28 Mar, 2013

LISBON (Reuters) – Portugal is facing a potential political crisis if its constitutional court rejects government austerity measures, risking more euro zone turmoil on top of the Cyprus bailout this month.

Publico newspaper said on Thursday Portugal’s premier Pedro Passos Coelho had told his closest colleagues his government may fall if the court rejects more than 1 billion euros worth of austerity measures from this year’s budget.

Such a collapse, or a major failure in meeting budget targets, could derail Portugal’s exit from its bailout program arranged by the European Union and International Monetary Fund in 2011, undoing attempts to regain full access to debt markets.

The court, expected to rule in the coming weeks, has been analyzing this year’s budget since January. Opposition parties have argued that cuts to pensions, civil servants’ salaries and welfare benefits undermine workers’ basic rights.

A ruling against the budget could compromise around 2 billion euros out of some 5 billion euros in this year’s austerity measures that include the largest tax hikes in living memory.

“If the government falls because of that, it’s definitely not going to be nice for Portugal and for the euro zone, because Lisbon has moved closer to Ireland and is perceived as a tentative success of the adjustment program,” said Giada Giani, an economist at Citi in London.

Portuguese 10-year bond yield jumped to 6.5 percent on Thursday from 6 percent at the start of the week mostly on concerns about the wider impact of Cyprus’ bailout – the first in the euro zone to impose losses on bank depositors.

Publico said the prime minister had told the permanent commission of his center-right Social Democratic Party the government was unlikely to be able to find alternative measures to compensate for an unfavorable ruling from the court.

“I will not speculate or create expectations around possible (court) decisions. I won’t contribute to instability,” Passos Coelho told reporters when asked to comment on the report.

Filipe Garcia, head of consultants Informacao de Mecrados Financeiros in Porto said the “possibility of a political crisis” exacerbated already high risks of this year’s budget execution stemming from the recession.

GOVERNMENT WAITING

Citi’s Giani said that even if the court rejects a large part of the measures – which is far from certain – the government should still be able to adopt additional steps to compensate without having to quit. “Comparatively, things are still pretty much contained in Portugal.”

On Wednesday, Passos Coelho declined to predict the outcome, but told reporters “the court has to take responsibility for its decisions and for the impact they may have on the country”. Last year, the court dealt a blow to government plans of more public sector wage cuts, forcing it to resort to tax hikes instead.

Antonio Costa Pinto, a political analyst at the University of Lisbon said the government was pressuring the court to uphold most of its measures, but he could not rule out a real crisis unfolding.

“I have no doubt it is a dramatization to pressure the court, but sometimes such dramatizations bring down those who dramatize things,” he said

Moody’s Investors Service on Thursday affirmed Portugal’s Ba3 rating – which is three notches below investment grade and the lowest of the three major raters – but kept it on negative outlook, citing high public debt and the country’s vulnerability to regional shocks such as the Cyprus crisis.

Standard & Poor’s ratings agency has recently raised its outlook on Portugal to stable from negative.

(Reporting By Andrei Khalip. Editing by Jeremy Gaunt)

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Hopefully this will be the beginning of that domino effect to rescue the World from the present state of currency slavers and their continued use of graft, corruption, organized crime, media monopolization and greed to deceive the World. Let them all fall down and exit in haste.

When will the Global citizens learn? “This currency that is manufactured by these Private Banks that are owned by a handful of people, does not belong to you. It never has and it never will. Let them take it and go. Force them out of your countries and eventually off this Planet.”

Cyprus Banks Great News For Global Citizens

Some fantastic news about the rejection by the citizens of the invented “austerity” myth and laws to further enslave the Global Population by the currency slavers in Cyprus.

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Cyprus Mail
Wednesday, March 20th 2013

Cyprus lawmakers reject bank tax; bailout in disarray

NICOSIA, March 19 (Reuters) – Cyprus’s parliament overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout on Tuesday, throwing euro zone efforts to rescue the latest casualty of the currency area’s debt crisis into disarray.

The vote by the small state’s legislature was a stunning setback for the 17-nation euro zone, after lawmakers in Greece, Portugal, Ireland, Spain and Italy had repeatedly accepted unpopular austerity measures over the last three years to secure European aid.

The rejection, with 36 votes against, 19 abstentions and one absence, brought the east Mediterranean island, one of the smallest European states, to the brink of financial meltdown.

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We have repeated in the past that there is no longer any reason for any country to exist. The governments today are all corrupt and do not represent the “best interests” of any of their citizens. Countries do not protect they only isolate and separate the Global population. Culture does not exist in any country because this is a thing that is found where the population dwells and to find that one must travel into the towns and cities. It is only in towns and cities where culture is found. Hopefully the European Union will soon collapse and with it the concept of countries and governments.

Soon the people of Cyprus will make a decision and the only sensible one is for them to leave Europe and to “Kick-out” all the banks from their country. The currency that is manufactured on-masse by these Private Banks is totally worthless. It does not belong to the citizens, so let them take all of their worthless currency and go along with their invented debts, taxes, inflation and all other manner of evil.

To learn more about the Next Global Economy and how the New Global government will function you need only read about the New Global Communist Party and be sure to copy and distribute the Manifesto in your country.

Corporations Continue To Destroy The Environment: Clothianidan

This pesticide Clothianidan is banned in many countries and is well known to be the agent responsible for the death of the Honey Bee colonies around the world. This drug has a destructive half-life of 18 years so that it will continue to pose a threat even if production and use were to end today. As with all things today, “Greed” and corrupt corporations are responsible for the production and continued use of this product.

A great story by Mother Earth News provides details. See it at the site or read it below.

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Tell the EPA to Immediately Suspend Clothianidin: The Pesticide That’s Killing Bees

A study released by Europe’s leading food safety authority, EFSA, has labeled the pesticide clothianidin as an “unacceptable” danger to bees. Sign this petition to suspend the use of this dangerous pesticide.

By CREDO Action
March 12, 2013

Clothianidin, which is used to treat seeds like corn and canola, expresses itself through the plants’ pollen and nectar — the honeybee’s favorite sources of food. –

Bees have been dying off in the U.S. at an alarming rate — nearly 30 percent of our bee population, per year, have been lost to so-called colony collapse since 2006.

Scientists have long thought that the pesticide clothianidin was at least partially to blame. But the EPA has repeatedly ignored scientists’ warnings and Americans’ urgings to ban its use, citing lack of evidence.

Now, a blockbuster study released by Europe’s leading food safety authority, EFSA, has for the first time labeled clothianidin as an “unacceptable” danger to bees.

The EFSA study could be a major breakthrough to convince the EPA to take emergency action, and suspend the use of clothianidin to stop the precipitous decline in global honeybee populations.

Tell the EPA: Immediately suspend the pesticide that’s killing bees! Click here to automatically sign the petition.

In addition to finding clothianidin too dangerous to use on plants pollinated by bees, EFSA’s study specifically identifies as too flawed to be useful the shoddy studies provided by pesticide manufacturer Bayer as evidence of clothianidin’s safety.

It was these sham studies that EPA used to first approve clothianidin in 2003, even against the objections of EPA’s own scientists.

The pesticide, which is used to treat seeds like corn and canola, expresses itself through the plants’ pollen and nectar — the honeybee’s favorite sources of food. Clothianidin is in a class of pesticides called neonicotinoids, which are relatively new, and their use coincides with the rise of colony collapse.

If EPA does not take emergency action now, it won’t review clothianidin again until 2018.

Given the rate of colony collapse, and the indispensable role that pollinators play in our food system — pollinating one-third of our food crops and providing literally billions of dollars in economic benefit — it would be stunningly irresponsible of EPA to continue allowing the use of this dangerous pesticide for at least another five years.

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As usual we see Corporate Greed destroying the World and nobody seems to care.

The population must begin to gather in unity in order to end this rule of Banks, Corporations and their ugly, evil oligarchs and cartels that debase the World and the Human population through Greed. Only the New Global Communist Party can free the population through education and through action. Please do familiarize yourself with the Manifesto of the New Global Communist Party. Copy and distribute this for free in whatever country you reside and demand the Unity that is required to save this Planet.

Letter From the New Global Communist Party.

When we speak of life upon this planet we must cease to regard it as a place of different countries and instead think in terms of a street in our neighbourhood. Each country is a house and those caregivers in that household are those government/officials responsible for the care of the citizens (to be regarded as the children within that house). Ask yourselves this question, “Is it possible to be content within your yard of plenty while one neighbour starves as yet another beats their children?” This answer is no. It is the time for the population on this street to be in union with the children and concentrate on eliminating this idea of separateness. No longer is it permitted to pretend that we are not all responsible for each other and to stand by and do nothing while these houses create such despair to their residents for this is an act of omission and just as dreadful as an act of commission.

Eventually the perceptions of happiness will alter as individuals discover that it is never wealth and power that bring true happiness as these are illusions of the virus of Greed. You cannot eliminate poverty without also eliminating wealth. Wherever you look you will find true happiness in those who have discovered that it is always found in the ability to give and receive love freely. Soon the New Global Communist Party will manifest itself in the World and begin the process of educating the residents on our street and in each house. To begin this education is important and so this is to offer encouragement to all who read this letter to copy and replicate and to distribute for free this manifesto of the New Global Communist Party.

Octaevius Altair Esq.

Permanent Cheif State Advisor N.G.C.P.
Grandmaster of the Globe U.P.O.L.