Popular Posts
- RUSSIA : Putin Now Playing Corruption Slayer Card.
- MEXICO : To Fend Off Brutal Zetas Narcos...Torreon Ponders Deal With Sinaloa Gang; Zetas Still Control Coal Rich Coahuila State.
- EU / FRANCE / UK : Paris Continues Nastiness Over Cameron Euro Balk...Demanding That London Be Downgraded First!
- ITALY / EUROZONE : New Greek Crisis Delays Berlusconi's Love Songs CD Release.
- USA / HOUSING/ MEDIA : Is Bloomberg/Businessweek Cover...Racist?
- VENEZUELA : Bitter Election Aftermath For Opposition; Zulia Man Kills 6 After Losing Bet On Capriles.
- VENEZUELA / ARGENTINA : Hugo Paints Nestor...For Cristina; Chavez Hosts CELAC Summit...Without USA, Canada.
- GEORGIA : 2 MPs Slug It Out...On Live TV.
- VENEZUELA : 09 Feb UPDATE: Caracas Finally Devalues Bolivar...By 32%.
- RUSSIA: Anti-Corruption Blogger Alexei Navalny Emerges As Putin Party Challenger; Another Protest In 'Putin Snow Revolt.'
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