大咖福利影院

MikeInPoulton wrote:

could it be probable that (at sometime in the future) smaller members of the 'club' could be asked to do the same (and I mean Malta by this)?

Mike

possible, yes, probable, no.

1. Cypriot banks were hit hard by Greece default - no comparable event could hit Maltese banks
2. Maltese banks very conservative compared to Cypriot ones
3. 2 of the big 3 banks in Malta are backed by HSBC and the church respectively

georgeingozo wrote:

MikeInPoulton wrote:

could it be probable that (at sometime in the future) smaller members of the 'club' could be asked to do the same (and I mean Malta by this)?

Mike

possible, yes, probable, no.

1. Cypriot banks were hit hard by Greece default - no comparable event could hit Maltese banks
2. Maltese banks very conservative compared to Cypriot ones
3. 2 of the big 3 banks in Malta are backed by HSBC and the church respectively

Thanks George

I understood the 'possibility'....it was the probability I needed clearing up; after all - as has been seen in recent times - even the 'great' are vulnerable and 'political will' can always be manipulated/influenced by the budget holders in Central Europe.聽 One thing I wasn't aware of was the backing the church gives to the banks in Malta.....it gives me something else to consider when planning the future.

As Ken noted....this "no" vote from the Cypriot government makes for compulsive 'car-crash TV'.聽 The beginning of the end?

MikeInPoulton wrote:

[聽 One thing I wasn't aware of was the backing the church gives to the banks in Malta....

Not the banks but one, APS, which they own

georgeingozo wrote:

MikeInPoulton wrote:

[聽 One thing I wasn't aware of was the backing the church gives to the banks in Malta....

Not the banks but one, APS, which they own

....indeed George, but I am reminded of Citigroup in New York (losses of over $300 trillion), IndyMac ($13.9 trillion) the Anglo Irish Bank....and who can forget the Icelandic fiasco.

The good Lord may work in mysterious ways, however, I don't think that a bank owned by the Church in Malta would be protected from the pressures of world markets.....and more importantly the vagaries of the politics/pressures, seen more often these days, from the plutocrats of the EU.

I predict a domino effect within a year.........I just hope that Malta is prepared (indeed the UK also).

Mike

redmik wrote:

I also do not intend to put all my eggs into one basket and will keep funds in the UK, in capital and property.

so a sterling basket :-) That is fine if you live in the UK, but if you live in Malta you should consider having some of your assets in Euros so as to have some safeguard against a collapse in 拢. Maybe 1 years expenditure ?

jeanniebx wrote:

I live in Cyprus, and it's very worrying at the moment.聽 The banks haven't been open since last Friday, and at the earliest will be open tomorrow - - - - - - maybe.聽 Some people say it may get to next Tuesday (Monday being a public holiday).聽 My state pension was transferred on the 14th, so is somewhere in the ether as no transactions have taken place since the 15th and it wouldn't have arrived then. . . . .聽 .
Let's be clear, it wasn't the Cypriot government who imposed a raid on bank accounts, it was a condition of the bail out loan.聽 This has made the news world wide - I have had a message from a friend in Canada saying he's seen it on the television, and asking if I'm OK and saying if I need money to let him know and he'll wire it to me.
So we are just waiting now, for the next stage, what will happen?聽 Who knows!

It does not matter who tried to impose this ,the fact is that by even suggesting it the run on banks is now inevitable, its just a matter of how many people try to withdraw what is after all their money. Confidence in the banking system was already at an all time low, this proposal can only speed up the Euro break up.

Terry

tearnet wrote:

jeanniebx wrote:

I live in Cyprus, and it's very worrying at the moment.聽 The banks haven't been open since last Friday, and at the earliest will be open tomorrow - - - - - - maybe.聽 Some people say it may get to next Tuesday (Monday being a public holiday).聽 My state pension was transferred on the 14th, so is somewhere in the ether as no transactions have taken place since the 15th and it wouldn't have arrived then. . . . .聽 .
Let's be clear, it wasn't the Cypriot government who imposed a raid on bank accounts, it was a condition of the bail out loan.聽 This has made the news world wide - I have had a message from a friend in Canada saying he's seen it on the television, and asking if I'm OK and saying if I need money to let him know and he'll wire it to me.
So we are just waiting now, for the next stage, what will happen?聽 Who knows!

It does not matter who tried to impose this ,the fact is that by even suggesting it the run on banks is now inevitable, its just a matter of how many people try to withdraw what is after all their money. Confidence in the banking system was already at an all time low, this proposal can only speed up the Euro break up.

Terry

Et Voila.......succinctly put Terry.

Sorry Mick......when I said I predict a 'domino effect' I didn't mean just Malta - I meant within the EU and in particular those already 'on the brink'.聽 What I can't get my head round is - if (when) it happens will it be a good or bad thing.

Like I said earlier....."carcrash TV"

Mike

redmik wrote:

From chaos comes order :-)

didn't have you down as a mason

georgeingozo wrote:

redmik wrote:

From chaos comes order :-)

didn't have you down as a mason

I'm not but I have driven on Malta :-)
Mind you Portugal was worse.



Malta has the safest roads in the EU, according to EU data.
Malta cut its road fatalities by nearly half in just a year. It also had the lowest rate of fatalities in the EU in 2012, reporting 26 deaths per million inhabitants, according to the annual road safety statistics 聳 which detail the number of fatal road accidents across the 27 EU member states.
The average in the EU stood at 55 deaths per million inhabitants, a decrease of nine per cent over 2011.
Malta has held the enviable record in this area particularly because it has no highways and due to its small road network, where speed is under 聭natural聮 control.
However, the 2012 statistics show that Malta cut its road fatalities by nearly half in a year.

ricky wrote:

Cyprus is closer to Malta than you might think !

For example 48 % of the Lombard Bank Malta belong to the Laiki Marfin Bank of Cyprus.

Cheers
Ricky

But that does not mean that the EU would request the same conditions than those requested to Cyprus. Helping the Maltese banks would not have the political cost for many EU leaders (such as Merkel) that helping Cyprus banks might have, because of the origin of 30% of those deposits.

ricky wrote:

Laiki bank ( part owner of Lombard bank) will be cut back and turned into a bad bank.

is that a fact or opinion, as I can't find anything to confirm

tearnet wrote:

Wow, Just heard on the BBC news that Cyprus now considering a 25% steal of bank deposits said the "finance minister".
No mention of any "above" amounts, so may be across the board.

Terry

I heard over 100,000聙

georgeingozo wrote:

ricky wrote:

Laiki bank ( part owner of Lombard bank) will be cut back and turned into a bad bank.

is that a fact or opinion, as I can't find anything to confirm

looks like not turned into a bad bank, but split into 2, good and bad. I think more likely is a new company set up (as happened in Ireland) and the bad assets from all the banks put into it. Shareholders and bond holders should be wiped out (or nearly so), again as per Ireland