Καλημέρα σε όλους.
Έχουμε γίνει πρωτοσέλιδο σε όλες τις διεθνείς σελίδες FT, Reuters, NYT, κτλ.
Το ευρώ έχει ανοίξει 200pips χαμηλότερα, περίπου 1.3% (απο 1.31 στο 1.29). Ο Dow Jones αναμένεται να ανοίξει 30pts χαμηλότερα.
To Moodys αναφέρει:
Moody's: Cyprus Bailout Is Credit Negative for Bank Depositors Across Europe; Credit Implication for Sovereigns Is Unclear
Η Gazprom φαίνεται να διαπραγματεύεται με το προεδρικό απο ψές την αγορά τράπεζας, με ανταλλάγματα στο φυσικό αέριο (βλέπε άρθρο πιο κάτω απο Defencenet.gr).
Παραθέτω πιο κάτω τα άρθρα με τις τελευταίες (βραδυνές) εξελίξεις.
Λούκας
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Πρώτα με λίγο χιούμορ:
Cyprus national balance sheet is in classical pinch:
“on the left, nothing’s right, and on the right, nothing’s left”
FX Market Opens, EUR Hammered, CHF Bid; S&P To Open -30pts
Cyprus works on last-minute deal to soften bank levy
Mohamed El-Erian's (PIMCO boss) comment on Cyprus in the FT
A muddled and risky approach to Cyprus
(attached)
Ρωσική πρόταση από Gazprom για την σωτηρία της Κύπρου με αντάλλαγμα κοιτάσματα & LNG!
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Πιο κάτω είναι άλλα ενδιαφέρον άρθρα της Κυριακής που πιστεύω αξίζουν να τα κοιτάξετε όταν έχετε χρόνο
The ECONOMIST: The Cyprus bailout is unfair, short sighted and self defeating
The Cyprus Bank Bailout Could Be A Disastrous Precedent: They're Reneging On Government Deposit Insurance
The Cyprus precedent
Euro zone crisis: What will savers do? | The Economist
The Botching of the Cyprus Bailout: Worse Than Lehman Brothers
Cyprus Bailout: Welcome To Another Great Depression
An excellent perspective on the current situation in Cyprus
Depositors will be provided with bank shares to the value of their losses. They are being "bailed in" in the same way as junior bond holders: a percentage of their deposits are being converted to equity. The money taken from the depositors will go to the sovereign to compensate it for the cost of bailing out the banks. At the end of the process, the sovereign will be left with a manageable amount of debt, and the banks will be owned by their depositors and junior bondholders. In effect they will have become mutuals.
The effect of large and small depositors removing funds on that scale will be abrutal economic downturn as the money supply collapses. In particular, the dominant financial sector will suffer a severe contraction, putting thousands of jobs at risk and paralysing lending to Cypriot households and businesses.
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