Cyprus bail-in thread (2) | 137 comments (137 topical, editorial, 0 hidden)

Plan A was the Eurogroup deal, plan B appears to be capital controls under ECB direction.

My plan C would be as follows:

Uninsured depositors in the two banks the ECB claims are bankrupt receive equity in exchange for their deposits.
Insured depositors in the two banks the ECB claims are bankrupt receive Cyprus government consols, redeemable as par in payment of Cypriot government taxes.
Capital controls are instituted in the form of an exit tax equal to Cyprus' sovereign CDS spread on the day of the capital outflow.

guaranteed to evoke a violent reaction from police is to challenge their right to "define the situation." --- David Graeber citing Marc Cooper

by Carrie (migeru at eurotrib dot com) on Tue Mar 19th, 2013 at 05:59:37 PM EST

Re: A plan C for Cyprus (none / 0)

You should set up shop as an economic/monetary crisis consultant at €10,000/week. Italian threads and accessories, including stylish shades.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Mar 20th, 2013 at 12:26:40 AM EST
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Cyprus bail-in thread (2) | 137 comments (137 topical, 0 editorial, 0 hidden)