How do Europeans really feel about what happened in Cyprus?

[klee]

How de we feel? Check bitcoin-24 price: 75!!!!!!

That means the dollar should be at least +10 ...

[Sword Smith]

Before one starts to blame the PIIGS too much, one should know that the bailout packages paid by Northern countries to the PIIGS mainly work as a kind of money laundering for Northern banks. If a German bank owns Greek gov. bonds then the bank may crash if these bonds default. The solution is to bailout Greece since this will keep the German banks afloat.

[minimalB]

It's funny, but i don't get it. To most people i talk here in eastern Europe, they are aware of situation (because of media, etc) but somehow think that it's not gonna affect their country in particular. I mean, who are they kidding?

Mass media and entertainment has really made people numb to pretty much anything.

Personally, i am surprised that the whole thing did not collapse years ago, so, still waiting...

[seldon]

Same here in germany - people watch the Cyprus/Greece situation with interest (and sometimes a bit smug) but cannot relate this to their own situation.

IMHO people used to handle larger amounts of money might have a more realistic view on this

[cedivad]

Italy - we know for sure that something similar is going to happen soon here too, our private capital is our greatest wealth.
However, bitcoin with its volatitly is not a valid alternative. A swiss account could be.

[bracek]

Croatia (soon to enter EU):

I get a feeling that people are boiling inside, but cant articulate what is actually bothering them.
when waiting in hospital halls, or in bank, I sometimes comment something out loud, with irony,
those who respond seem to get it, feel that everything is wrong, politics, religion, economy, financial inequality, there is simply no vision for future,
like we are all waiting for something to happen...

cars and real estate sales are dropping like a rock, but prices of those items are not

food cost, utility bills and gas ever slowly rising

when I start to explain, or point to the roots of problems, nobody wants to listen,
like some kind of paranoia of being paranoid

fear for deposits in banks is low, or at least very well hidden, or people have nothing to fear for

we were excessively bombarded with new pope news, (compared to neighbor states),
every now and then, we get some emotional news blast to keep us all together in these hard times and all that sht...

a few smaller banks dropped dead, but most of money was not stolen, as far as I heard ...

[tralala]

I'm form Germany.
I think this cyprus discussion is really overblown. The only reasons it's getting media attention is because Cyprus is part of the Euro.
I think there are many parallels to Iceland which was already mentioned in this thread and finally after some bickering it'll be solved the same way: let the banks go bankrupt and let the greedy investors pay.
In no way does this Cyprus thing show the weakness of the Euro or other fiat currencies it just shows that unsustainable business will fail eventually.

[tralala]

Personally, i am surprised that the whole thing did not collapse years ago, so, still waiting...

I think you can wait a long time. The Euro and other fiat currencies are not dead and won't collapse soon.

[nwbitcoin]

UK viewpoint

Cyprus people are being screwed by their government, but its not more than proof that we were right never to get involved with the Euro.

However, it has made people aware of how powerful the EU really is. 

The problem for the UK is that it has a number of military bases on Cyprus, as well as a big expat community, so there are a number of stories in the press from real people who are being effected.  One story involved a plane being sent from the UK to the military with a £1 million in cash on it to keep everyone in cash while the banks decided what they were doing.

The other side is that now that the Euro has been shown to not be strong enough to be able to deal with the differences of Europe, from the rich north, to the corrupt east and poor south (there is a generality to annoy a few people! ) it seems obvious that the EU is going to have to create a Eurolite to ensure that the Euro itself doesn't get killed, as it should.

Luckily, the UK has its Pound sterling, and if the Euro is split into a north and south Euro currency with different valuations, then the pound will become more desirable again, making it easier for the London to grab the financial centre of Europe tag unchallenged!

Of course, nobody is talking about bitcoins.  This is purely about central banks because they know what they are doing!

[Chalkbot]

I found this thread very enlightening. Thanks to everyone who posted in here!

[sgbett]

UK viewpoint

Cyprus people are being screwed by their government, but its not more than proof that we were right never to get involved with the Euro.

However, it has made people aware of how powerful the EU really is. 

The problem for the UK is that it has a number of military bases on Cyprus, as well as a big expat community, so there are a number of stories in the press from real people who are being effected.  One story involved a plane being sent from the UK to the military with a £1 million in cash on it to keep everyone in cash while the banks decided what they were doing.

The other side is that now that the Euro has been shown to not be strong enough to be able to deal with the differences of Europe, from the rich north, to the corrupt east and poor south (there is a generality to annoy a few people! ) it seems obvious that the EU is going to have to create a Eurolite to ensure that the Euro itself doesn't get killed, as it should.

Luckily, the UK has its Pound sterling, and if the Euro is split into a north and south Euro currency with different valuations, then the pound will become more desirable again, making it easier for the London to grab the financial centre of Europe tag unchallenged!

Of course, nobody is talking about bitcoins.  This is purely about central banks because they know what they are doing!

I'm concerned that, as seems to be the pattern in other countries, there is a bit too much confidence in our own economic situation and currency. National debt is around 70% GDP and we are still running a deficit despite austerity. Economic growth is flat. The money markets suggest that interest rates aren't going to be rising now until late 2018 at the earliest. (great for me my mortgage reverts to VAR of 0.95% above base rate in 5 months time...) whilst 'real' inflation continues to bite, despite what government reported rate might otherwise suggest.

Compared to US we aren't doing too badly (debt at >100% GDP deficit of ~8%). Compared to eurozone we are about middle of road. So relatively speaking UK is OK, but that's realtive to a really poor worldwide situation!

My biggest surprise is the seemingly widespread belief that 'our govt wouldn't do that to us'. Call me a cynic, but I would not rely on that one jot!

I agree, let the banks fail, let the banksters take the fall.