World economy talk

[uls]

short yen long Nikkei! ^^^

[Ry_Tower]

Mukhang nakatulong talaga lower value of yen.

Data signals end to Japan's recession - Mar. 7, 2013

[aramid]

Devaluing your currency does have its merits.

[Monseratto]

Tick...tick...tick...

[uls]

market chatter... Apple may pay out a special dividend of $30/share

[Ry_Tower]

Pabagsak nang pabagsak.

Greek unemployment hits 26% in 4th quarter | Inquirer Business

[uls]

Cyprus parliament to vote on savings levy | Reuters

(Reuters) - Cyprus's parliament will decide on Sunday whether savers must pay a levy on bank deposits under terms for an international bailout to avert bankruptcy - with approval far from certain.

The euro zone demand on Saturday that savers pay up to 10 percent of deposits as a condition for the 10 billion euro ($13 billion) bailout drew fury in the eastern Mediterranean island and caused some jitters elsewhere in the region.

who is the genius that came up with that idea?

that's gonna cause banks runs throughout the eurozone

[uls]

risk off

[uls]

News Headlines

"Everybody knows that the vast majority of the deposits in Cyprus are from Russia,"

"They're Russian government officials, they're Russian businessmen, it's Russian mafia – and you don't mess with the Russian mafia."

[uls]

EPHE dump

[Monseratto]

EPHE dump

Bagsak yung PSE the past few session days...

[uls]

Cyprus lawmakers reject bank tax; bailout in disarray | Reuters

(Reuters) - Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout on Tuesday, throwing international efforts to rescue the latest casualty of the euro zone debt crisis into disarray.

[Monseratto]

Beside large exposure to Greece debt, the forced 70% "haircut" made it worse...

[uls]

from page 683 (June 13, 2012)

watch -- Cyprus Popular Bank

Forex Flash: Cyprus Popular Laiki bank limits withdrawals to ?260/day - Societe Generale

Forex Flash: Cyprus Popular Laiki bank limits withdrawals to €260/day - Societe Generale
Thu, Mar 21 2013, 22:13 GMT | FXstreet.com

FXstreet.com (Barcelona) - As Sebastien Galy, currency strategist at Societe Generale, notes, "the Eurozone is insisting on the 100K protection which consequently leaves the offshore depositors to take the risk."

"What seems to be going ahead is the bank resolution (bad bank good bank) for one of the two major banks. This is the most pressing issue, with one bank restricting cash withdrawals to 260 EUR per day per person" he adds.

http://online.wsj.com/article/BT-CO-...21-711704.html

ATHENS--Cyprus's plan to wind down Cyprus Popular Bank PCL (CPB.CP), also known as Laiki Bank, would reduce the country's financing needs by 2.3 billion euros ($3 billion), a senior government official said Thursday, as a bill setting the framework for the resolution of banks was ready to go to parliament.

"If the parliament passes this bill, instead of EUR5.8 billion, Cyprus will need EUR3.5 billion," said Averof Neophytou, the deputy leader of the ruling Democratic Rally party.

[uls]

ATM withdrawals Cyprus Pop Bank limited to 100 euros per day per customer

[uls]

hey Cyprus go back to the Cypriot Pound

[uls]

RIP Cyprus Popular Bank

Cyprus and EU agree draft proposal to rescue banks | Reuters

(Reuters) - Cyprus, the European Union and the International Monetary Fund have agreed a new plan to resolve the island's bank and finance a rescue of the country, an EU official said early on Monday.

The proposal, which will now be presented to euro zone finance ministers for discussion, will involve setting up a "good bank" and a "bad bank" and will mean that Popular Bank of Cyprus, known as Laiki, will effectively be shut down.

Deposits below 100,000 euros in Laiki will be transferred to Bank of Cyprus. Deposits above 100,000 euros, which under EU law are not insured, will be frozen and will be used to resolve debt. It remains unclear how large the writedown on those funds will be.

The EU spokesman said there would be no "levy" imposed on any Cypriot banks, with the package requiring a full "bail-in" of uninsured depositors, which is likely to mean heavy losses for those with large holdings in Laiki and potentially Bank of Cyprus, where many Russians hold bank accounts.

[uls]

what the powers-that-be did with Cyprus should make bank depositors across the eurozone very nervous

After Cyprus, eurozone faces tough bank regime - Eurogroup head | Reuters

(Reuters) - A rescue programme agreed for Cyprus on Monday represents a new template for resolving euro zone banking problems and other countries may have to restructure their banking sectors, the head of the region's finance ministers said.

"What we've done last night is what I call pushing back the risks," Dutch Finance Minister Jeroen Dijsselbloem, who heads the Eurogroup of euro zone finance ministers, told Reuters and the Financial Times hours after the Cyprus deal was struck.

"If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?'. If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders," he said.

[uls]

PNoy has been waiting for this


Philippines wins first investment grade rating from Fitch | Reuters

(Reuters) - Fitch Ratings raised the Philippines' credit rating to investment grade on Wednesday, a first for the Southeast Asian nation, in a move expected to boost investment and lift the country's long-term growth potential.

The one-notch upgrade to 'BBB-' is a vote of confidence in the government's efforts to achieve fiscal sustainability, curb corruption and increase infrastructure spending, and comes as a growing number of much larger economies in the West struggle to avoid credit rating downgrades.

"The Philippines' sovereign external balance sheet is considered strong relative to 'A' range peers, let alone 'BB' and 'BBB' category medians," Fitch said in a statement, adding a persistent current account surplus underpinned by remittance inflows has helped the country become a net external creditor.

[wowiesy]

PNoy has been waiting for this

Philippines wins first investment grade rating from Fitch | Reuters

This is good gor what little stocks i have in my portfolio... But how long will it take to generate real jobs?

3 years na lang si PNoy if indeed this is a consequence ng consistent PROJECTION nya ng daang matuwid, sana di naman bumagsak pag umupo na ang susunod....