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Old 20th Mar 2013, 01:02
  #104 (permalink)  
NutLoose
 
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From the Beeb..

Appears the EU threat was just bluster


EU finance ministers had previously warned that Cyprus' two biggest banks would collapse if the deal failed to go through in some form.

But after the vote the European Central Bank (ECB) moved quickly to announce it would continue to provide support for struggling Cypriot banks "as needed within the existing rules".

German Finance Minister Wolfgang Schauble said he "regretted" the vote and that Cypriots must understand ECB aid was contingent on a reform programme.

Meanwhile, the UK ministry of defence said a plane carrying 1m euros had arrived in Cyprus as a contingency measure to provide military personnel and their families with emergency loans.

The money is to be used for British personnel and their families if cash machines and debit cards stop working.
One does wonder if this could be the beginning of the end of the Euro, at least one good thing would have come out of the Euro, and that is a levelling of the playing field in European currencies which means we won't go back to the old days of needing to be a Lira Millionaire to buy a pint in Italy.

Last edited by NutLoose; 20th Mar 2013 at 01:08.
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