Popular Posts
- POLAND: Warsaw Lauds LOT Pilot Wrona For Safe Crash Landing.
- HONDURAS : 4 Nov. UPDATE: 176 Police Arrested For Corruption; Lobo Sacks His Top Cops...Sends Troops Into Sula, Tegucigalpa.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- ITALY / EUROZONE : New Greek Crisis Delays Berlusconi's Love Songs CD Release.
- USA : 07 May UPDATE: Famous Fat Cat Meow...Dies On Diet.
- PERU: Chaos Reigns In Lima's Streets With Unregulated Taxis And Ancient Buses.
- SERBIA / KOSOVO / EU : President Nikolic Talks Tough About Pristina.
- CHILE / CANADA : Court Suspends Barrick Gold Pascua Lama Mine Production.
- COLOMBIA: Corrupt Police Aided Bogota's Fake Torture Brothel.
- MEXICO : Zetas Founder/ Leader "Lucky" Hernandez Lechuga Captured In Veracruz.
31 January 2013
CYPRUS / EUROZONE / RUSSIA / IMF : Tiny Island Delivers Big Worries.
ANALYSIS
Some currency traders predict the euro will hit $1.40 vs the usd in 2013...before retreating.
The euro is currently hovering around the $1.36 level.
The Eurozone's troubles seem to be receding.
Until...the little island of Cyprus came along. Again.
It desperately needs a bailout.
At least...10 billion euros to mend its banking system...and 7.5 bn euros for operations and debts.
It has been begging for money since June last year.
But 17.5 billion euros almost equals its 18 billion GDP.
How could it ever repay the loans?
And...there's the nagging Russian problem.
Rich Russian nationals love to visit...and bank in Cyprus.
They may also be laundering their fortunes thru its very amenable banks.
Germany especially is reportedly uncomfortable with Moscow's close ties to Nicosia.
The Cyprus FinMin expects Russian investors will extend their 2.5 bn euro/$3.4 bn loan...due in 2016...to 2022.
http://uk.reuters.com/article/2013/01/31/uk-eurozone-cyprus-idUKBRE90U0C120130131