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Thursday, March 21, 2013

The Quality Of Mercy Is Not Strained

Wasn't that a complaint about the wrong ethnic/cultural group? ECB  to Cyprus: "You're up S##@ Creek Without A Paddle."
The European Central Bank, which has kept Cyprus's banks operating with a liquidity lifeline, said the government had until Monday to get a deal in place, or funds would be cut off. "Thereafter, Emergency Liquidity Assistance (ELA) could only be considered if an EU/IMF programme is in place that would ensure the solvency of the concerned banks," it said.
Note that the EU/IMF has already stated that a deal which results in the Cyprus government assuming the debt does not suffice. 

Meanwhile, in Italy, Bersani is still trying to get Grillo to come to terms so that a government can be formed.You think there's any talk about banking depositors going on?


Comments:
You'd have better luck getting mercy from a Mafia loan shark than a European institution.
 
Where are the bank runs in Spain and Italy? Maybe they are happening without lines of people and not being reported in the media.
 
Neither is the Koala tea in Mercy, that well known outback town.

Sorry, punch line to a very old campfire joke.
 
The Chinese have been awful quite. Maybe they are waiting to see if Cyprus stays in the EU.
Sporkfed
 
The Chinese will intervene in the same manner that they have in Africa - when things have hit rock bottom and they can acquire what they want on the most exploitive possible terms.
 
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