[ExI] cyprus banks

[Adrian Tymes]

On Tue, Mar 19, 2013 at 3:27 PM, Mirco Romanato <painlord2k at libero.it> wrote:
> Il 19/03/2013 21:35, Adrian Tymes ha scritto:
>> * Parliament said "HELL NO".
>
> The lawmakers said "Hell NO!!! If we approve this the people will want
> hang us, the Russian Mafia will want hung us and our family, the people
> will take their saving out of the banks, the Russians will take money
> out of the banks and the banks and the government will be broken and
> dead anyway.

Some of them thought that far.  Some of them were purely protecting
their own bank accounts.

In general, when describing these things, it is better to be briefer and not
elaborate.  Elaborating on reasons inevitably means you describe the
average, or suspected average, condition - and doing much of that means
you are starting to say things that are not true of more and more specific
cases.

Especially if you assume motives.  It is apparently recorded data that
there was not a single yes vote, though there were abstentions along with
the no votes.

>> * It is possible that a bank run may happen once the banks reopen
>> despite the rejection, since the mere suggestion of this quickly lead to
>> mass protests.  (The currency is confidence based, after all.)
>
> The only way to reestablish some confidence is to put in their
> constitution, an article forbidding the government to put any tax on
> bank accounts or any form of cash.
> Tomorrow could be a good idea. Today a better idea.

If the constitution can be so easily changed, the article could be removed
when convenient just as easily.  Besides, the media report the shocking
thing - the proposal to tax deposits - and not so much the non-shocking
thing - sane countermeasures to make sure that doesn't happen - so it
wouldn't help prevent a bank run on Friday that much.