{"id":19474,"date":"2013-03-17T09:50:10","date_gmt":"2013-03-17T14:50:10","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=19474"},"modified":"2013-03-17T09:50:10","modified_gmt":"2013-03-17T14:50:10","slug":"cyprus-delays-emergency-parliamentary-session-over-banking-haircut","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2013\/03\/17\/cyprus-delays-emergency-parliamentary-session-over-banking-haircut\/","title":{"rendered":"Cyprus delays emergency parliamentary session over banking haircut"},"content":{"rendered":"<p>Apparently not all the politicians in the Cypriot parliament are on-board with the <a href=\"http:\/\/www.reuters.com\/article\/2013\/03\/17\/us-cyprus-parliament-idUSBRE92G03I20130317\" target=\"_blank\">mandatory levy on savings accounts<\/a>:<\/p>\n<blockquote><p>Cyprus&#8217;s parliament has postponed until Monday an emergency session to vote on a levy on bank deposits after signs that lawmakers might block the surprise move agreed in Brussels to help fund a bailout and avert national bankruptcy.<\/p>\n<p>In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit up to 9.9 percent of their deposits in return for a 10 billion euro ($13 billion) bailout to the island, which has been financially crippled by its exposure to neighboring Greece.<\/p>\n<p>The decision, announced on Saturday morning, stunned Cypriots and caused a run on cashpoints, most of which were depleted within hours. Electronic transfers were stopped.<\/p>\n<p>[. . .]<\/p>\n<p>Many Cypriots, having contributed to bailouts for Ireland, Portugal and Greece &mdash; Greece&#8217;s second bailout contributed to a debt restructuring that blew the 4.5 billion euro hole in Cyprus&#8217;s banking sector &mdash; are aghast at Europe&#8217;s treatment.<\/p>\n<p>Cyprus received a &#8220;stab in the back&#8221; by its EU partners, the daily <em>Phileleftheros<\/em> said.<\/p>\n<p>But it and another newspapers highlighted the danger of plunging the banking system into further turmoil if lawmakers sat on the fence.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Apparently not all the politicians in the Cypriot parliament are on-board with the mandatory levy on savings accounts: Cyprus&#8217;s parliament has postponed until Monday an emergency session to vote on a levy on bank deposits after signs that lawmakers might block the surprise move agreed in Brussels to help fund a bailout and avert national [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,62,84],"tags":[436,893,337],"class_list":["post-19474","post","type-post","status-publish","format-standard","hentry","category-economics","category-europe","category-government","tag-banking","tag-cyprus","tag-eu"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-546","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/19474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=19474"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/19474\/revisions"}],"predecessor-version":[{"id":19475,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/19474\/revisions\/19475"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=19474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=19474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=19474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}