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euronews reporter - The Greek debt that became Cyprus' Trojan Horse
 
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http://www.euronews.com/ Some news from Cyprus, which sounds uncannily like news from Greece: the country does not have access to the international capital markets and economic reforms are going at a snail's pace. Cypriot banks are drowning in greek junk bonds. That's why they need a muti-billion euro lifeline now too... More new faces are showing up at the soup kitchen in the southern Cypriot city of Limassol, entire families asking the orthodox church for a free meal. The church is warning that some radical new changes are afoot. Cyprus needs a bailout. The communist ruled EU-member is cash-strapped. Unemployment is on the rise and the economic outlook is gloomy. Fifty-seven year old Costas is looking for a job. Nothing special: just something, anything. But instead of blaming the lack of competitiveness of the Cypriot economy, banks for their investment choices, or even the politicians for not having reformed the island's economy in time, he blames the EU's free labour market. Costas Panayi, unemployed, Limassol "In Cyprus there is a big problem now. Iit is getting worse, because more people come here to eat. They do not have food...300 people and families... and there are no jobs in Cyprus, because of the Europeans that came from Romania, Bulgaria, all over the place - and they take the jobs of the Cypriots." But the problem also lies elsewhere: Cyprus suffers from it's close links to crisis-shaken Greece. Just nearby the church's soup kitchen, Cypriots and tourists mingle happily on the Limassol beach. During the last few decades, the southern part of the still-divided island got used to stunning growth rates and huge cash-inflows from abroad. But the greek nightmare throws a frightening shadow over the Cypriot paradise. For more than a year now, Cyprus has been cut off from international capital markets. Double-digit interest rates make it impossible for Cyprus to finance it's current budget deficit through market condition loans. The party is over, the orthodox church reminds us and a new reality is beginning to bite. When the church started the food programme in Limassol in 2003, just a few elderly people showed up. Since then, the number of hungry mouths has multiplied. Giouli Chatzaki, Social worker, Limassol "We have a lot of families coming here. The last two years we had a lot more families coming and asking to get some food because it is a free service and the reason is that one or even two of the parents have usually lost their jobs. We have children that can not afford to buy a sandwich or a juice, in the school". Cyprus may need a bailout that is more than half the size of its 17 billion euro economy. The employment agency in Nicosia is crowded. The jobless rate just climbed over ten percent. Compared to Greece, it's low. But for Cyprus, that's extraordinarily high. For the last two years, twenty-eight old, highly qualified Andreas has been unemployed. Now he wants to leave. Andreas Polycarpou, Unemployed, Nicosia "If I were lucky, I would find a job in the rest of Europe, maybe in Germany, in France, maybe. Or I am looking for a job in Australia or Canada, but they want a visa for those countries and it is not easy to get a visa now". In Europe, youth unemployment is highest in Greece at fifty-three percent. Cyprus lies at twenty-nine percent, while Germany enjoys Europe's lowest youth unemployment rate with just eight percent. The EU average is twenty-two percent. Twenty-seven year old Yianna studied graphic design and downscaled her career hopes, but couldn't even land a secretarial job. Her mother has been unemployed for two years and her father - who worked in the construction sector - is jobhunting too. Yianna Philippou, Unemployed, Nicosia "I've been looking for a job for six months now. All my friends are in exactly the same situation as I am, they can not find anything at all. Because of the crisis, I got fired by a company that had to close down one of it's three shops". Cypriot banks' balance sheets are suffering under the weight of bad Greek debt. An estimated twenty-three billion euros were channeled from Cyprus to Greece, hence the need for urgent recapitalisation. Cyprus' three biggest banks are exposed to the tune of fourty-two percent, seventeen percent and thirty-four percent respectively, with regard to Hellenic debt. When investors agreed last year to what is called a "greek haircut", it wasn't just hair they lost. This is especially true for the Cypriot banks that bought up Greek junk bonds. They lost three quarters of their value due to that "haircut agreement". Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Views: 6573 euronews (in English)
Cyprus deal shocks markets
 
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http://www.euronews.com/ The surprise decision by eurozone leaders to part-fund a bailout of Cyprus by taxing bank deposits sent shockwaves through financial markets on Monday. Shares tumbling as investors sold them to transfer cash into so-called safe-haven assets such as gold and German government bonds. Frankfurt trader Robert Halver warned of fear contagion to places like Spain and Italy, saying: "The bank crisis is back again. If we look at the Spanish and Italian banks this morning, their shares were down significantly because there is the fear that there will be a run on the banks; that what is happening in Cyprus could also happen in Spain or Italy. It is vital that the small-time savers hold their nerve." Milan and Madrid were the biggest losers, both down two percent at mid afternoon, while the amount of Russian money in Cypriot banks .led to a sell off of shares in Moscow. The interest that Italy and Spain had to pay to sell government bonds jumped sharply. The cost of insuring against a government default in the eurozone's southern rim also rose. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Bailout for Cyprus, but at what cost?
 
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http://www.euronews.com/ Cyprus says it is premature to speculate on what conditions Brussels might attached to the bailout it wants. EU sources said the Cypriot government could ask for 10 billion euros to shore up its banks. The government itself says no amounts have been discussed. Officials from the ECB, which will carry out an assessment with the European Commission of precisely how much aid Cyprus may require, were due on the island on Monday, two sources told Reuters. In Cyprus a big fear is that unpopular austerity measures could be imposed and that its low-tax status for businesses could be challenged. Analyst Fiona Mullen of Nicosia-based economic research consultancy Sapienta said: "We don't know what the cost will be, what the EU will demand in return for this loan. The biggest worry being they might force an increase in the corporate tax rate, which is currently the lowest in the EU at 10 percent." Cypriot banks have lent 29 billion euros to Greece, through government bonds and individual loans; that is 160 percent of Cyprus's GDP. Its economy is forecast to shrink 1.2 percent this year and the deficit - at 6.3 percent - is one of the highest in the eurozone. The banks in the tiny Mediterranean island have been crushed by huge losses sustained when the value of Greek government bonds was written down in an attempt to make Athen's debt mountain more sustainable. However, Cyprus's finance minister has said he does not believe any conditions that come with the EU bailout would be as painful as some believe. *How big a bailout* Economist Fiona Mullen said it would be wise for Cyprus to request 10 billion euros in order to avoid going back in six months time to ask for more. She also suggested this was what the EU was asking Cyprus to do. "I think 10 billion covers them for three eventualities. The first is the two plus billion that they need for, the immediate need for Cyprus Popular Bank, the second largest bank. The second one is they also need 2.5 billion, around 2.5 billion next year, the government needs this in debt refinancing. And the third reason is, essentially, protecting themselves against the deteriorating loan portfolio in Greece. My own estimate is that if Greece fell out of the euro, then it would cost the banks another five billion, so altogether, that comes to 10 billion." *Reactions* "The problem should have been dealt with three to four years ago when the difficulties of the governments and banks began. I think we took too long and now things are difficult. No one is happy with this development, but since it is necessary, there must be a hard negotiation in order to achieve the best result," said Christakis Papalouisou, a 64-year-old dentist who said his patients are increasingly stressed about the rise in unemployment and economic uncertainty. "If we have to borrow this money, it has to be repaid and this is going to come from taxes, from all the people over here, and already the people can't pay any more taxes. The other way is going to be to tax all the companies and in Cyprus, most of the companies that we have have opened here are from abroad and that's happened because we have low taxes. If the taxes go up, all the companies are going to close and go abroad," said Panos Christodoulou, a 28-year-old graphic designer who said he is finding it increasingly difficult to find a job with foreign companies in Cyprus. The manager of a video gaming shop said demand has dropped and two of their shops have closed in the last two years. Aris Miliotis wants the government to restore confidence to restart the economy. "At this point the thing I am fearing the most is panic -- mass panic. What's going to happen once the 'troika' (the European Commission, European Central Bank and International Monetary Fund) comes in and measures are imposed? I think people will not react well," Miliotis said. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Views: 1329 euronews (in English)
How to get Cyprus citizenship by investment and be an EU citizen
 
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How can you get Cyprus citizenship by investment? Learn about a way to become an EU citizen. With more demand on the second passport market, the prices of economic citizenships have only been going up and Cyprus is at the very top with its price tag. Cyprus citizenship is available by investing at least 2 million euros in the country's residential real estate market, government bonds, or into an established Cypriot company. The story of Cyprus citizenship is quite interesting, and though its roots aren't that promising, now you can get a lot from this passport. There are also some interesting perks to have in mind when it comes to this citizenship, as Andrew explains in the video. Watch the video to the end to find out how to get Cyprus citizenship and enjoy the benefits of EU citizenship that come with it. The truth is that EU passports offer a lot of commodities when it comes to visa-free travel, and Cyprus passport is no different. Subscribe to our channel and stay tuned for more videos and information about second passports, offshore strategy, reducing your taxes and going where you're treated best. --- ABOUT NOMAD CAPITALIST Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom. Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports. He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump. As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve. Nomad Capitalist's Youtube channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle. About Andrew: http://www.nomadcapitalist.com/about/ Our website: http://www.nomadcapitalist.com Our blog: http://www.nomadcapitalist.com/blog/ Work with Andrew: http://www.holanomad.com/
Views: 13077 Nomad Capitalist
Cyprus Citizenship by Investment (Immigrant Investor Program) - Episode 10
 
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There have been several updates to the existing Cyprus Citizenship-by-Investment. The Council of Ministers revised the existing program on March 19th, 2014, enabling foreign nationals to gain citizenship if they meet certain criteria set out by the Ministry of Interior. When you acquire citizenship under the Cyprus citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent. The Citizenship-by-Investment Program requires a person to make a significant economic contribution to the country. In exchange, and subject to a stringent vetting and diligence process, including thorough background checks, the applicants and their families are granted citizenship. To qualify for citizenship, the primary applicant must be over 18 years of age, meet the application requirements by investing at least €5 million under one of six options: Government Bonds, Financial Assets, Real Estate, Local Business Activities, Bank Deposits, Combination (mixed option), or Impaired Deposits. The latest additional option is for a submission of group applications under any or a combination of the first four options for €2.5 million investment by each applicant in a collective investment scheme, the total amount of which exceeds €12.5 million. Note that investment for categories 1 to 4 can be performed through different sellers or providers (a physical or legal person). In addition, every applicant must be the owner of a permanent residence in Cyprus, with a market value of at least €500,000 plus VAT. It is understood that the members of the same family, who submit different applications as investors, can buy collectively a residence/house, provided that the total amount of the residence/house covers the amount of €500,000 for each applicant.
Views: 4720 ENCUBATE
Hungary cancels Immigrant Investor Bond residency
 
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Hungary decides to cancel Immigrant Investor Bond residency and Andrew is here to talk about what this means, and what you can learn from it. For some people out there, this is not the best news, since by suspending the residency program, Hungary is removing one straightforward path to the second residency in the EU for investors. In the last years, Hungary has become quite xenophobic, due to thousands of refugees flocking to go through the country. Immigrant Investor Bond residency program was simple - you invest 300,000 Euros into government's bonds, you get no interest, and after 8 years, you get your money back. While you're waiting for your money, you have the right to travel and work anywhere in the European Union, which is what made Hungary an entrance point for many Asian investors. Now, Hungary has closed the door to this program, as their economy is doing better and they don't want that many foreign investors running around. Thankfully, there are plenty of other European residency programs that can grant you visa-free access to EU and Andrew talks about them in the video, so make sure to watch to the end. Subscribe to our channel and stay tuned for more videos and information about second passports, offshore strategy, reducing your taxes and going where you're treated best. ----- ABOUT NOMAD CAPITALIST Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom. Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports. He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump. As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve. Nomad Capitalist's Youtube channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle. About Andrew: http://www.nomadcapitalist.com/about/ Our website: http://www.nomadcapitalist.com Our blog: http://www.nomadcapitalist.com/blog/ Work with Andrew: http://www.holanomad.com/
Views: 4850 Nomad Capitalist
U.S. Banks Begin CYPRUS-Style CAPITOL CONTROLS!
 
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Find More TRUTH EXPOSED and SCANDALS UNCOVERED: http://truth.themoneygps.com ******************************************************************** The Money GPS by David Quintieri featuring Bob Chapman, James Turk, and David Morgan. Look Inside the Book!: http://book.themoneygps.com My Free eBooks: FLUORIDE: http://fluoride.themoneygps.com GMO: http://gmo.themoneygps.com VACCINES: http://vaccines.themoneygps.com Join The Money GPS Insiders: http://themoneygps.com PREPARE for the COLLAPSE: http://amazon.themoneygps.com ******************************************************************** Chase Revamps Cash Deposit Rules to Ease Money-Laundering Risks a new policy that requires customers who want to make a cash deposit to show identification and be listed on the actual account. Central Bank kicks off €1m campaign for cashless society Cyprus expected to ease capital controls almost year after €10bn bailout Sources: http://www.foxbusiness.com/industries/2014/01/14/chase-revamps-cash-deposit-rules-to-ease-money-laundering-risks/ https://twitter.com/KristenMeghan/status/435383613111013376/photo/1 http://www.independent.ie/business/irish/central-bank-kicks-off-1m-campaign-for-cashless-society-30033110.html http://www.theguardian.com/world/2014/feb/20/cyprus-ease-capital-controls-domestic-transactions-bailout
Views: 4302 The Money GPS
euronews interview - Cyprus in the EU spotlight
 
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http://www.euronews.com/ The European Union is currently undergoing one of the most turbulent economic periods in its short history, with political, ideological and financial divisions threatening to bring its fragile edifice tumbling down. Andrei Beketov, Euronews: Euronews welcomes to its studio the President of Cyprus, whose country has just taken over the presidency of the Council of the European Union. What is the most important thing that you want to achieve in the next six months? Demetris Christofias: Together with the European Commission and the European Parliament (we are all part and parcel of the European Union) we need to put forward a programme to tackle economic problems. The main priority will be negotiations on the multi-annual financial framework, which will be conducted with the 27 EU members, in particular the Eurozone partners, and all the institutions until December. We can not resolve the economic crisis exclusively through the policy of budgetary austerity. We can not go forward without development, without creation of jobs, without a more gradual or fairer distribution of wealth produced in the European Union. This is our general philosophy. Euronews: When you were talking about too much austerity, I wonder whether it was the Communist in you talking. Your ideology isn't shared by many European politicians. How will your Communist views affect the Cypriot presidency and maybe the policy of the whole of the European Union? Demetris Christofias: Before assuming the post of the president of the Republic of Cyprus, I made it clear that I will not try to implement my own Communist ideology. I will use the capitalist system, but in a fair way. Maybe capitalism is inhumane but at the same time we can have fairer distribution of wealth without introducing a communist regime. I am a member of a political party of working people, it is a progressive party. Now is the time to solve the daily problems of people and nations. We will see how we handle the ideology issue later. Euronews: Also on your background, if I may. You studied in Russia, you speak Russian. Does it mean that Brussels will perhaps pay more attention to relations with Russia while you are EU president? Demetris Christofias: In my view, the European Union must have relations of friendship and cooperation with Russia which is also part of Europe, we have to acknowledge that. Therefore, if and when needed, we will play a significant role. Euronews: Cyprus is expected to lead other countries out of the crisis. But Cyprus is seeking financial help for itself. How will you cope with the two apparently contradictory tasks? Demetris Christofias: I don't think these tasks are contradictory and conflicting. The fact that Cyprus needs external aid to capitalise some banks that have been exposed to Greek bonds doesn't mean that we must not work for the benefit of other countries that need assistance. I think in Cyprus we dont have big problems with budgetary discipline. Our biggest problem - our banks' exposure - will be solved with European help. Euronews: For most of the European countries, Cyprus is a remote island in the Mediterranean. Could that geographical location be an advantage now? Demetris Christofias: Because of its location at the southern border of the European Union, Cyprus can play a very important role as the bridge of a common understanding, friendship and cooperation of the EU with the countries of the region, the Middle East and North Africa. We have very good relations with countries that went through the Arab spring. Euronews: How is the EU going to deal with Turkey's refusal to cooperate with it on many issues during Cyprus' presidency? Demetris Christofias: I think it is a shame that the Turkish government has sent different messages in the past, and only now decides to get tough. My message to Turkey is that it should respect the Republic of Cyprus as an equal member of the European Union. Euronews: What other benefits do you see from your country's presidency in the EU for the issue of reunification? Demetris Christofias: The fact that one part of Cyprus is occupied by the military forces of a neighbouring country, which aspires to be a member of the European Union is in itself contradictory. We do not have the will or the force to resolve our problems with Turkey through military means. We have to find peaceful means to develop dialogue. I have suggested it several times to Mr Erdogan and Mr Gul, but unfortunately they don't recognise me as the president of the Republic of Cyprus. Euronews: Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Views: 6775 euronews (in English)
Hans-Werner Sinn in Brussels on Eurocrisis and Cyprus.
 
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Lecture abstract Prof. dr. Hans-Werner Sinn (Director ifo Institut Munchen) Europe in crisis European Future Lectures Series Pro Flandria. Brussels March 28th 2013 ------ The European Monetary Union is currently experiencing a serious internal balance-of-payment crisis. The so-called periphery countries, and especially Greece, are finding it difficult to finance their national budgets. Various bail-out measures have been introduced to save individual Eurozone countries from insolvency, which are collectively referred to as the "euro bail-out package". In addition to this package, however, there have been purchases of government bonds and the option for countries to help themselves via money creation, which the ECB System grants crisis-hit countries at the expense of the other euro countries. About half of Germany's net foreign wealth is now a Target claim of the Bundesbank against other central banks in Europe. To March 2013, Germany's overall exposure in the case of a cumulative default on the part of the GIPS countries, Italy and Cyprus totaled around EUR 688 billion taking all bailout packages into consideration. In the end, the ECB Council, and not German parliament, was responsible for deciding how to dispose of most of this sum. The steps taken by the ECB are not merely the side-effects of a monetary system, but are the result of a system failure, which is precluded in the US financial system where Target claims must be settled with marketable securities. In his lecture, Hans-Werner Sinn shows why this system failure poses a threat to Germany and the eurozone, and is forcing it to make concessions in negotiations over bail-out packages. Prof. dr. Hans-Werner Sinn is the President of Ifo Institute for Economic Research (Munich). His books include "Can Germany be Saved? The Malaise of the World's First Welfare State", MIT Press (2007) and "The Green Paradox", (2012). The British newspaper The Independent named Sinn among the ten most important people who changed the world in 2011 and the German Business weekly WirtschaftsWoche placed him in the No. 1 position among the "Most Important Economist in the Country." As Germany's most influential economist, Hans-Werner Sinn voice is of major importance in the discussion about the institutionalization of European solidarity.
Views: 9021 ProFlandriaLectures
Confidence in Cyprus | Authers' Note
 
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► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs Foreign exchange markets celebrated the announcement of eurozone QE by pushing the euro to a fresh low against the dollar. John Authers suggests that disappointing US jobs data might now have a sharply negative impact on the dollar. ► Authers’ Note: http://bit.ly/1Liu16x ► FT Markets: http://bit.ly/1J5HNd3 ► Will ECB launch full QE?: http://bit.ly/1d3U0Au Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
Views: 523 Financial Times
Golden Visa Cyprus / Fast track citizenship Cyprus
 
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This video summarizes the options to get a residence permit and citizenship in Cyprus. Golden Visa Europe or Investor Visa - We show you the relevant information how to obtain an investor visa for several States in Europe incl. Spain, Portugal, Latvia, Malta and more in a clear and understandable way. Terms differ from country to country, but basically you need to invest either in real estate, government bonds and / or companies to obtain a Visa for up to 5 years. The investment could be as low as 150.000 Euro in some states + fees. Most big countries offer you the possibility to obtain a Golden Visa / Investor Visa (or so-called residency visa, golden resident, real estate visa) with an invest of around 500.000 Euro + fees. The Golden Visa usually allows you to travel to the Schengen Visa countries (26) all over Europe incl. Germany! http://golden-visa-europe.com/golden-investor-visas-in/golden-visa-cyprus/
Views: 1871 Golden Visa Europe
hungarian government bonds
 
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hungarian government bonds is a the Best residency programs in europe Go To http://residency-bond.info/ Get your Permanent Residency Bond, Our Office has 100% success for this type of operations LIFELONG You pay once and you can use it in your whole life. ASY Easy requirements, personal guidance throughout the whole Program. FAST Fast processing, residence permit within 1-2 months. FOR YOUR FAMILY Your spouse and your minor children are also included in the Program free of charge. LOW COST Total cost is €360,000 of which €300,000 will be refunded after 5 years. It actually costs EUR 60,000 for the whole family. This is the cheapest offer in Europe. hungarian citizenship hungarian citizenship application form hungarian citizenship by investment hungarian citizenship for sale hungarian citizenship law hungarian citizenship requirements hungarian government bonds hungarian government website hungarian immigration hungarian immigration lawyer hungarian nationality hungarian nationality law hungarian office of immigration and nationality hungarian permanent residence hungarian permanent residence card hungarian permanent residence permit hungarian permanent residency hungarian residence permit hungarian residency bond hungarian residency bond program hungarian residency bonds hungary bond hungary bonds hungary business immigration program hungary capital hungary citizenship hungary citizenship by investment hungary citizenship requirements hungary eu member hungary immigration hungary immigration law hungary immigration official website hungary immigration policy hungary immigration program hungary immigration requirements hungary immigration website hungary in chinese
Charlie Munger on Cyprus and Bankers
 
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http://seekingalpha.com/author/value-investors-portal/articles#regular_articles Charlie Munger on Cyprus and Bankers
Views: 1877 valueinvestorsportal
Cyprus Investment Promotion Agency - CIPA
 
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Established with a Council of Ministers decision in 2007, the Cyprus Investment Promotion Agency is a registered not-for-profit company limited by guarantee and fully funded by the Government of Cyprus. The Board consists of 15 Directors. Operating since January 2008, the Cyprus Investment Promotion Agency has a threefold mandate: • To promote Cyprus as an attractive international investment centre in key priority growth sectors • To advocate reform in Cyprus required to improve the regulatory and business environment and infrastructure • To provide investor support with after care and further development services The film is produced by Mediabox ltd, Cyprus
Views: 220 Michael Georgiades
Adieu Cyprus!
 
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Comment on European Parliament Facebook page: http://www.facebook.com/europeanparliament Cyprus President winds up EU Presidency with a stinging attack on austerity policies. EuroparlTV video ID: 86677c66-2f4f-4c08-b108-a1470142e567
Views: 471 European Parliament
Warren Buffett on Federal Reserve Policy to Buy Government Bonds
 
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http://seekingalpha.com/author/value-investors-portal/articles#regular_articles Warren Buffett on Federal Reserve Policy to Buy Government Bonds
Views: 8435 valueinvestorsportal
How to Start a Hedge Fund in Cyprus
 
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Investors can find out from our magazine important details on how to start a hedge fund in Cyprus. More information on the investment environment can be discovered here http://www.fundworld.org/.
Views: 125 Fund World
Greek Debt Crisis - Explained In 3 Minutes - Clarke & Dawe MUST SEE Video
 
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Greek Debt Crisis - Economy Explained - Do something about it today http://CheapestBullion.co.uk - Click Now and discover how to buy the cheapest bullion and get free silver! "Nico Nomist" Originally aired on ABC TV's 7.30: 14/07/2011 http://www.twitter.com/mrjohnclarke http://www.facebook.com/ClarkeAndDawe From Wiki: The Greek government-debt crisis is one of a number of current European sovereign-debt crises.[1]. In late 2009, fears of a sovereign debt crisis developed among investors concerning Greece's ability to meet its debt obligations due to strong increase in government debt levels.[2][3][4] This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other countries in the Eurozone, most importantly Germany.[5][6] The downgrading of Greek government debt to junk bond status in April 2010 created alarm in financial markets, with bond yields rising so high, that private capital markets practically were no longer available for Greece as a funding source. On 2 May 2010, the Eurozone countries and the International Monetary Fund (IMF) agreed on a €110 billion bailout loan for Greece, conditional on the implementation of austerity measures. In October 2011, Eurozone leaders agreed to offer a second €130 billion bailout loan for Greece, conditional not only the implementation of another austerity package, but also that all private creditors holding Greek government bonds should sign a deal accepting a 53.5% face value loss. This proposed restructure of all Greek public debt held by private creditors, which constituted a 58% share of the total Greek public debt, would according to the bailout plan reduce the overall public debt burden with roughly €110 billion. A debt relief equal to a lowering of the debt-to-GDP ratio from a forecasted 198% in 2012 down to roughly 160% in 2012, with the lower interest payments in subsequent years combined with the agreed fiscal consolidation of the public budget and significant financial funding from a privatisation program, expected to give a further debt decline to a more sustainable level at 120.5% of GDP by 2020. For more info got to: http://en.wikipedia.org/wiki/Greek_government-debt_crisis http://www.TheMintBuilder.com - Click Now and discover how to buy the cheapest bullion and get free silver! http://www.youtube.com/user/WhereToBuySilverNow Original video http://www.youtube.com/watch?v=rK0De210TBQ Video SEO: http://www.youtube.com/user/VideoSeoServices http://www.videoseoservices.com For all your video seo services Greek Debt Crisis
Views: 87272 Cheapest Bullion
Cyprus exit risk real, as Eurogroup more sanguine this time - Analyst
 
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CYPRUS EXIT RISK REAL, AS EUROGROUP MORE SANGUINE THIS TIME - ANALYST Cyprus's parliament rejected a plan yesterday to tap on bank deposits to raise 5.6 billion euros as part of a bailout. Lawmakers are now trying to come up with a plan B. Cyprus needs to come up with one, as the Eurogroup seems more willing to let a country go this time, says Daiwa Capital Markets Euro Area Economist Tobias Blattner. SHOWS: LONDON, ENGLAND, UK (REUTERS - ACCESS ALL) (MARCH 21, 2013) 1. DAIWA CAPITAL MARKETS TOBIAS BLATTNER, SAYING: "(Question: What do you think of Plan B? Is there anything workable here out of Cyprus?) Oh I mean for sure, at least they are struggling I think to come up with a plan. I think that meets the criteria of the Eurogroup, namely that you have to have something that is debt sustainable, that is debt-neutral. And that, I think, looks very, very difficult because the only viable plan was actually that Russia, the Russian government will take a stake in one of the country's largest lenders. I think that seems to be a non-viable solution for now. The Russians don't want to do that. And so all of the other rumors that we have, we have plenty of them, of course but I think, for example, that they will set up a domestic fund that will then issue government bonds that would be bought by domestic institutions. That again raises of course the issue of debt sustainability. So it seems very, very difficult for the Cyprus government to come up with something. (Question: What do you guys at Daiwa think? Is the previously unthinkable now likely to happen, i.e., an expulsion of a country from the Eurozone by the ECB, by Germany, whoever?) I think if we look at how the crisis has been handled in the first place, if we look at the most recent comments that we see from representatives of the troika, of the Eurogroup, then yes, it really suggests that this time, the Eurogroup will be more willing to let potentially a country go if it doesn't stick to the plan. And they have put in place measures that contain contagion most notably the OMT, of ...
Views: 133 Market Screener
Cyprus approves Hellenic Bank buyout of Cooperative Bank
 
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Cyprus approves Hellenic Bank buyout of Cooperative Bank NICOSIA, Cyprus –  The finance minister of Cyprus says the government has approved Hellenic Bank's multibillion-euro offer to take over the island nation's troubled Cooperative Bank. Finance Minister Harris Georgiades said that under the in-principle deal reached Friday, Hellenic Bank will manage 9.7 billion euros ($11.25 billion) worth of client deposits. Hellenic, which also is based in Cyprus, will also absorb 10.3 billion euros ($12 billion) in assets — including loans, bonds and cash — and ... ----------------------------- Don't forget Subscribe: https://www.youtube.com/channel/UC1ReW40NAEs6fVFk6Av97sQ?sub_confirmation=1
Views: 12 GR News
Cyprus: Buy, Sell, or Sit on the Sidelines?
 
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March 25 (Bloomberg) -- In today's "Word on the Street," Bloomberg's Stephanie Ruhle looks at possible options for investing in the wake of the Cyprus bailout. She speaks on Bloomberg Television's "Market Makers." (Source: Bloomberg) -- For more "Market Makers" videos: http://bloom.bg/RU3pJd -- Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg
Views: 1079 Bloomberg
Alex Jones - Cyprus Banking Crisis: EU Steals Nations Private Bank Accounts
 
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Alex Jones - Cyprus Banking Crisis: EU Steals Nations Private Bank Accounts This is only the start of the globalist war on humanity. This is agenda 21, the planed destruction of wealth and prosperity. [As of right now, citizens of Cyprus are scrambling to withdraw funds from their bank accounts after the EU, with agreement from the Cypriot government, announced they will decimate funds held in personal bank accounts to the tune of up to 10% of existing deposits.] Over the last few years political and financial leaders in Europe and the United States have implemented policies, regulations and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery. What happened in Europe today is yet further proof that nothing they've done has fixed the underlying fundamental issues surrounding the events that led to the crash of 2008. For those who don't believe the government is prepared to take extreme measures that may include the seizing of retirement accounts, cash savings or even gold, look no further than Cyprus, the latest recipient of bank bailouts. As of right now, citizens of Cyprus are scrambling to withdraw funds from their bank accounts after the EU, with agreement from the Cypriot government, announced they will decimate funds held in personal bank accounts to the tune of up to 10% of existing deposits. You read that right. The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every citizen in the country. Restrictions have been imposed to stop people emptying their accounts or moving their money out the country after the Cypriot government announced that up to ten per cent of deposits will be seized and used to bailout the island's crisis-hit banking system. The deal with other eurozone finance ministers is the first time that ordinary citizens' deposits have been directly raided in this way. ... One furious expat said: 'This is plain theft. I'd love to hear someone explain to me why it isn't.' ... Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent. ... The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines. ... 'Why would you risk putting your money in Greek, Spanish or Portuguese banks after this?' British expats were stunned by the news, with many left high and dry by the restrictions on accounts. Cash machines had been working, but many ran out of notes because of the panic withdrawals. ... But financial experts said the raid -- designed to stop Cyprus crashing out of the euro, potentially destroying the currency -- would send shock waves through the eurozone. If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks. They're calling it a "tax." As Market Ticker's Karl Denninger notes, "Like hell that's a tax. That's direct confiscation of the funds of people who did nothing wrong!" It should now be obvious. There is no recovery. There never was. No matter where you live, your government is likely preparing measures to deal with the coming financial and economic collapse. This means they are going to be coming for anything of value that they can get their hands on. If you have the majority of your net worth allocated in bank accounts, money market funds, retirement plans, stock markets or the host of other 'safe' assets recommended by your financial adviser, then you are playing Russian roulette. And in this version there's a bullet in every chamber. When they come, they will take everything they can. READ AT: http://www.infowars.com/confiscation-panicked-europeans-rush-atms-as-leaders-move-to-seize-funds-directly-from-bank-account-holders/
Views: 1916 Conspirafied0
Arrivals for meeting of Party of European Socialists
 
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(28 Jun 2012) Cyprus President Demetris Christofias said on Thursday his country may possibly use Russian and Chinese bailout money as well as EU financial aid at a European Socialist meeting in Brussels, prior to crucial EU economic summit later in the day. Christofias' statement came as plans were being firmed up by the European Commission, the European Central Bank and the International Monetary Fund to assess how much money Cyprus will need to prop up its banks and flagging economy. "It's not a sin, let me say, to have the assistance of the Union at the same time as the assistance of the Russians or the Chinese," Christofias said. Cypriot officials say a loan from another country would strengthen the country's hand in negotiations with the EU on the kind of austerity measures required. Cyprus government spokesmen said on Tuesday that clinching an outside loan will have a direct bearing on how much EU bailout money will ask for. ECB, IMF and EC officials have been planning to carry out an in-depth study into the Cypriot banking system and economy to calculate how much the country will need. The eurozone welcomed Cyprus' request for financial aid, saying that it is confident negotiated austerity measures would help the country return to a path of "sustainable growth." Cyprus, which began using the euro in 2008, needs 1.8 (b) billion euros (2.25 (b) billion US dollars) to help recapitalise Cyprus Popular Bank, its second largest lender that suffered the biggest losses from the writedown of Greek government bonds. But on Wednesday, Bank of Cyprus - the island's largest - said it would ask the government for 500 (m) million euros (621 (m) US dollars) in "temporary support" to help it meet is own recapitalisation targets. Arriving at the same meeting, Austrian Chancellor Werner Faymann said that Europe has to take steps towards mutualisation of the debt because if not, "those who have a very low debt now will have to pay for the others if the others go bankrupt." Martin Schulz, President of the European Parliament, also announced he will push for "an inter-institutional agreement between Council, Commission and Parliament for immediate action on growth and employment." Eurobonds, Greece, Cyprus, Spanish banks and ways to create growth in the EU are among the topics of the day at the economic summit. Yet expectations of a breakthrough on the explosive issue of pooling government debt seem to have fallen by the wayside. German Chancellor Angela Merkel, who has resolutely opposed the issuing of mutual debt, known as eurobonds, is the woman to watch, fear or confront at the two-day summit. Many leaders have backed the idea of eurobonds as a key way of fixing the eurozone's problems as they would spread debt risk, lowering indebted countries' borrowing rates. But Merkel has been reluctant to expose her country to new costs, and is concerned eurobonds may minimise the pressure on countries like Greece and Spain to reform their economies. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/acba39ad15f610c3f29dd8e214853cae Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 18 AP Archive
Is Moody's WARNING Of A CRASH? - Massive Wave Of Junk Bond Defaults Ahead!
 
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Josh Sigurdson talks with author and economic analyst John Sneisen about Moody's most recent warning as the credit rating agency claims there is likely a large wave of junk bond defaults ahead. We have seen the level of global non-financial companies rated as speculative or junk rise 58% since 2009, the largest proportion in history! We've also seen a 49% increase in debt for U.S. companies as well as the rise of share buybacks which are becoming more prevalent and more risky by the day. Moody's warnings should not be taken in stride. The agency only issues warnings when they absolutely have to and cannot put off the bad market sentiment any longer. They can only cover up so long until it becomes obvious. For their own good, they have to look like a serious credit rating agency when the markets tank, so they can say "I told you so." According to Moody's, the low interest rates and obsession with yield has lead to companies issuing mounds of debt that in comparison offer low levels of protection for investors. They warn that when economic conditions worsen, the outlook won't be so benign. We haven't seen this level of concern since 2008, and there's a reason for that. Nothing has changed since 2008. Well, actually scratch that... things have gotten WORSE since 2008. We never saw a recovery, we simply saw perpetuation. Putting off the crisis a bit longer, leading to far more pressure build-up and centralization run amok. Now, when it comes down, it'll come down that much harder and it'll be as if no one ever learned. If we want to stop the circular havoc, we as individuals need to support the individual's demand of their currency, the free market. Not bank and government centralization leading to massive downfalls. How many times do we need to go through this. Of course the fundamentals are off the table due to the level of manipulation in the monetary system as well as the markets, so we cannot put a date on the crash, but we know it has to happen inevitably and so we must prepare and understand the repeated problems. Self sustainability and individual responsibility are simply the most necessary ways to protect ourselves against this market and monetary calamity. Individuals must do their own due diligence and come out of this problem, strong and independent. Stay tuned for more from WAM! Video edited by Josh Sigurdson Featuring: Josh Sigurdson John Sneisen Graphics by Bryan Foerster and Josh Sigurdson Visit us at www.WorldAlternativeMedia.com LIKE us on Facebook here: https://www.facebook.com/LibertyShallPrevail/ Follow us on Twitter here: https://twitter.com/WorldAltMedia FIND US ON STEEMIT: https://steemit.com/@joshsigurdson BUY JOHN SNEISEN'S LATEST BOOK HERE: Paperback https://www.amazon.com/dp/1988497051/ref=zg_bs_tab_pd_bsnr_2?_encoding=UTF8&psc=1&refRID=ZBK6VTXQRA2F77RYZ602 Kindle https://www.amazon.ca/dp/B073V5R72H/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1500130568&sr=1-1 DONATE HERE: https://www.gofundme.com/w3e2es Help keep independent media alive! Pledge here! Just a dollar a month can help us stay on our feet as we face intense YouTube censorship! https://www.patreon.com/user?u=2652072&ty=h&u=2652072 BITCOIN ADDRESS: 18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU https://anarchapulco.com/buy-your-tickets/ Use Promo Code: wam to save on your tickets! World Alternative Media 2018 "Find the truth, be the change!"
Cyprus financial crisis : Cyprus Faces Looming Bankruptcy
 
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Efforts continue to find a way out of Cyprus's financial crisis. Lawmakers met for most of the day to discuss a fund involving contributions from the orthodox church and pension funds. Cyprus has a population of just over 1 million. Its economy represents less than 0.5 per cent of the wider eurozone economy. But the financial crisis in the tiny island nation could have global implications. Like its near-neighbour Greece, Cyprus is broke. Its banking system is insolvent. Cyprus has a large banking sector -- about five times the size of the nation's GDP -- and its banks had lent heavily abroad. As the global financial crisis unfolded, Cypriot banks suffered major losses, much of it on Greek government bonds and through exposure to Greek banks. As a result the Cypriot banking system needs at least 10 billion euros ($12.4bn) in new capital. The Cypriot state is also in a fiscal crisis. It needs at least 7 to 8 billion euros in additional funds to meet its public debts, or the nation will default. Read More... : http://www.abc.net.au/news/2013-03-22/explainer-behind-the-cyprus-financial-crisis/4588736
Views: 1462 mychannel2050
Cyprus economy contracts 6% in 2013
 
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The economic Adjustment Program of Cyprus is going along its course, and the government budget figures are better than expected, a team of international experts reported on Tuesday, while still warning about the existence of significant risks. According to Reuters, last year, the Mediterranean island became the fifth country of the euro zone to seek financial support from the European Union and the International Monetary Fund after it lost billions of euros on Greek bonds.
Views: 16 Kazakh TV
Cyprus Bailout - Is this a signal for the rest of Europe? Simon Dixon debates
 
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@SimonDixonTwitt shares an update on Cyprus bilout and Europe. finance a rescue of the country, EU officials said early on Monday. The proposal, which will now be put to euro zone finance ministers for approval, will involve setting up a "good bank" and a "bad bank". It will mean that Popular Bank of Cyprus, the island's second largest bank which is also known as Laiki, will effectively be shut down. Deposits below 100,000 euros in Laiki will be transferred to Bank of Cyprus, the country's largest bank. Deposits above 100,000 euros, which under EU law are not insured, will be frozen and will be used to resolve debts. It remains unclear how large the writedown on those funds will be. No charges will be incurred against any Cypriot bank account with less than 100,000 euros in them, the officials said. Finance ministers were expected to examine the agreement in detail, but one official said he did not think the outlines of the agreement would change in any significant way. "It should be fairly easy for finance ministers to agree to this," he said. "We have been in close contact with all relevant euro zone countries during this negotiation process and there is broad agreement." The plan is likely to mean very heavy losses for uninsured deposits in Laiki, which has suffered since writing down the value of its holdings of Greek government bonds last year. Around 35 billion euros is held in Cypriot accounts with more than 100,000 euros in them, but it is not clear how much of that total is held in Laiki bank. If sufficient funds can be found in Laiki to pay off debt and restructure the Cypriot banking sector, uninsured depositors in Bank of Cyprus may not incur any losses, although that remains to be seen. One of the officials said shareholders and bondholders in Bank of Cyprus would be part of the "bail-in", with those investors receiving equity in the bank in exchange. One potential complication that will have to be resolved concerns the provision of emergency liquidity assistance (ELA) to both banks by the European Central Bank. Laiki bank has received 9 billion euros of ELA, all of which will be transferred to Bank of Cyprus under the rescue plan. Bank of Cyprus has already received 1 billion euros worth of ELA assistance from the ECB. By taking on Laiki's obligations, it will now have outstanding assistance of 10 billion, which sources indicate is close to the ECB's acceptable threshold.
Views: 974 Simon Dixon
Yahoo! Finance News - U.S. Securities and Exchange Commission, Bank of Italy, Cyprus, Congress
 
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UBS in settlement talks with SEC over mortgage bond deal UBS AG is in talks with the Securities and Exchange Commission to settle allegations the bank defrauded investors in a mortgage bond deal that soured during the financial crisis, the Wall Street Journal ... http://us.rd.yahoo.com/finance/news/rss/story/SIG=14h58m50p/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12e4r54tk/*http%3A//finance.yahoo.com/news/ubs-settlement-talks-sec-over-145104232.html?l=1 Bank of Italy warns political impasse dents economic recovery Italy's political stalemate and renewed financial market turbulence could undermine the country's recovery from its longest recession in two decades, a Bank of Italy official said on Saturday. Italian ... http://us.rd.yahoo.com/finance/news/rss/story/SIG=14m7s68nn/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12j3np6af/*http%3A//finance.yahoo.com/news/bank-italy-warns-political-impasse-124001953.html?l=1 Tiny Cyprus Matters to Europe At barely one million inhabitants, Cyprus' population is minuscule. Yet what is happening in Cyprus could have enormous implications for Europe?s economic future and for the very survival of the euro itself. http://us.rd.yahoo.com/finance/news/rss/story/SIG=1504ev1uo/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12tke0k8u/*http%3A//finance.yahoo.com/blogs/the-exchange/why-tiny-cyprus-matters-europe-183548239.html?l=1 Congress Thwarts Post Office?s Plan to Eliminate Saturday Delivery In a setback to the United States Postal Service's cost-saving efforts, Congress has passed legislation requiring a six-day postal service delivery schedule. http://us.rd.yahoo.com/finance/news/rss/story/SIG=15vbrfso1/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=13s52f4pk/*http%3A//finance.yahoo.com/blogs/daily-ticker/congress-thwarts-post-office-plan-eliminate-saturday-delivery-162337107.html?l=1 http://www.wochit.com
Views: 103 Wochit Business
Rock Center | Restructuring Sovereign Debt in the 21st Century
 
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The Stanford Rock Center hosted a discussion on sovereign debt restructuring with two leading experts in the field: Lee C. Buchheit and Benjamin Hébert. Mr. Buchheit described where the law stands after the New York courts’ interpretation of the pari passu clause in NML Capital v. Argentina. He also outlined the contractual provisions introduced in sovereign bond documentation in response to this ruling, as well as potential restructuring strategies that sovereigns could use in the future to successfully restructure their debts. GSB Professor Hébert discussed his research, conducted with his HBS colleague Jesse Schreger, that estimates the causal effect of sovereign default on the equity returns of Argentine firms.
Views: 739 stanfordlawschool
Can You Buy Your Citizenship?
 
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Buying residency or a passport with offshore property malta immigration citizenship by investment program. Bulgaria, you can invest in government bonds with the money returned investment must be for purchase and or construction, creation of dual citizenship is allowed do not have to give up your current travel without a visa at least 176 countries including 28 eu if intend send someone else uk run business you, then it held form cash share capital should indefinite leave remain may apply naturalisation as british citizen 5 jun 2017 passport programmes buying often comes too high these also four six one difference that 500 000 made into multiple five years are free sell property retain this done by either malta 350,000 but country restrictions prohibit. You can also invest in real estate (must hold for 5 years) and get a citizenship, but it is the procedure of obtaining cyprus citizenship (passport) by investment simple. Uk places where you can buy your citizenship is the cheapest place to citizenship? Bbc news. S35 best countries for buying citizenship or residency corpocrat buy a home and get cyprus passportcitizenship, to $1 million la times. It could be a matter of physical or financial 26 aug 2013 investing half million dollars and creating at least 10 jobs is one way to pay if you're rich foreigner, you can buy your citizenship. Can you buy us citizenship? If so, what is the process like? Quora. 10 best second passports and citizenship by investment programs 7 countries where you can buy the citizenship. Here is a step by summary of how you can get your cyprus passport 29 nov 2015 depending on look at it, federal immigration program that perception the rich buy their way to an american 21 sep 2016 it will cost less than if try into another country (such still pretty penny 'buy' citizenship from these countries. It is also the first step in renouncing your us citizenship 12 jan 2016 there are many different reasons why a person would like to have another passport or residence. 20 aug 2016 if the option of having donald trump or hillary clinton as your president next year is scaring you, here are 7 countries where you can buy 17 aug 2016 for rich foreigners trying to find a quick way to emigrate to the u. The new airbus a 380 super jumbo jet airplane stands at frankfurt airport prior to its. These residence permits can eventually lead to citizenship, and are sometimes called 'golden visas', like in portugal 15 mar 2016 the best second passport is a) one you afford b) that gives visa free travel document world most valuable buy. But 7 sell them outright, and 3 have powerful passports 28 jul 2016 countries where you can buy citizenship. Foreign investors who hold 10m of their money here can apply for 8 feb 2017 in some countries it's possible just about anyone to obtain legal residency, including a passport if you're willing spend at least $100000 4 jun 2014 'just like you diversify an investment portfolio, want your portfolio,' he says. However
Views: 27 Wade Wade
The Italian Debt Crisis
 
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Coach Keith King links up with Trading Justice on Episode 271 to chat about the The Italian Debt Crisis
Views: 489 Tackle Trading
🇺🇦 The Oligarchs - Al Jazeera Investigations
 
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Aljazeera’s Investigative Unit unravels a high-stakes international plot hatched by powerful Eastern European oligarchs to make millions of dollars from a crooked deal. According to one Ukrainian analyst: “It sounds like an agreement between criminal bosses. You can sign it with your blood.” The scheme involves using a web of offshore companies and international lawyers to raid US$160 million dollars under the noses of the authorities. The money is effectively being stolen for a second time… the funds were initially frozen by Ukraine’s courts after its former president, Viktor Yanukovych, was discovered to have emptied the country’s treasury. The Oligarchs include an exiled gas billionaire guarded by Russian special forces, a Moscow property magnate and an Olympic show jumper on the run from Ukrainian authorities. The investigation shines light on the ever shifting battle between the oligarchs and global financial regulators. Subscribe to our channel http://bit.ly/AJSubscribe Follow us on Twitter https://twitter.com/AJEnglish Find us on Facebook https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/
Views: 340252 Al Jazeera English
Archbishop Chrysostomos II meets President Anastasiades for talks
 
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SHOTLIST 1. Wide of Cyprus' Orthodox Christian church Archbishop Chrysostomos II and Cypriot President Nicos Anastasiades 2. Close of Anastasiades 3. Wide of Chrysostomos II and Nicos Anastasiades 4. Close of Archbishop of Cyprus 5. Mid of Chrysostomos II and Nicos Anastasiades STORYLINE The head of Cyprus' influential Orthodox church Archbishop Chrysostomos II said on Wednesday that he will put the church's assets at the country's disposal to help pull it out of a financial crisis, after lawmakers rejected a plan to seize up to 10 percent of people's bank deposits to secure an international bailout. Speaking after meeting President Nicos Anastasiades on Wednesday in the Nicosia, Chrysostomos said the church was willing to mortgage its assets to invest in government bonds. The church has considerable wealth, including property, stakes in a bank and a brewery. Tuesday's rejection of the deposit tax has left the future of the country's international bailout in question. Cyprus needs 15.8 (b) billion euros (20.4 (b) billion US dollars) to bail out its banks and shore up government finances to avoid default and a potential exit from the European joint currency. If it doesn't get the money, the banks could fail, Cyprus' government finances could be ruined for years and the country could face expulsion from the union of 17 countries that use the euro. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/a716d73dffad0a1209e1986502c91b1f Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 97 AP Archive
Chrysostomos II says church assets at disposal of state to prevent collapse
 
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SHOTLIST 1. Close of of Cyprus' Orthodox Christian church Archbishop Chrysostomos II 2. Wide of Archbishop Chrysostomos II and Cypriot President Nicos Anastasiades seated during meeting 3. Mid of Chrysostomos II and Nicos Anastasiades 4. SOUNDBITE (Greek) Archbishop Chrysostomos II: "We have told them, that the church will (offer its) support. All small cities, all villages, and churches, all the monasteries will provide their assets, and we have assured them that all the assets belonging to the church are at the disposal of our people so that they won't collapse financially." 5. Close up cutaway of cameraman 6. Mid tracking shot of Archbishop Chrysostomos II getting into vehicle 7. Wide of Archbishop Chrysostomos II leaving in vehicle outside of President's office STORYLINE The head of Cyprus' influential Orthodox church Archbishop Chrysostomos II said on Wednesday that he will put the church's assets at the country's disposal to help pull it out of a financial crisis, after lawmakers rejected a plan to seize up to 10 percent of people's bank deposits to secure an international bailout. Speaking after meeting President Nicos Anastasiades on Wednesday in the Nicosia, Chrysostomos said the church was willing to mortgage its assets to invest in government bonds. The church has considerable wealth, including property, stakes in a bank and a brewery. Tuesday's rejection of the deposit tax has left the future of the country's international bailout in question. Cyprus needs 15.8 (b) billion euros (20.4 (b) billion US dollars) to bail out its banks and shore up government finances to avoid default and a potential exit from the European joint currency. If it doesn't get the money, the banks could fail, Cyprus' government finances could be ruined for years and the country could face expulsion from the union of 17 countries that use the euro. "All small cities, all villages, and churches, all the monasteries will provide their assets, and we have assured them that all the assets belonging to the church are at the disposal of our people," Chrysostomos told reporters after his meeting with President Anastasiades. Cypriot officials are holding a series of meetings on Wednesday to find a new plan to stave off bankruptcy. The proposals are said to aim at alternative ways to raise funds, while reducing the 5.8 (b) billion euros (7.5 (b) billion US dollars) that must be found domestically. The Troika formed by the European Commission, the European Central Bank and the International Monetary Fund pledged 10 (b) billion euros if the Cypriots found a way of raising the rest of the money by themselves. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/92c85454a74fe623c0298e27743d5508 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 80 AP Archive
Debt crisis: Spain and Italy under pressure
 
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In the midst of the worsening euro zone debt crisis Spain has survived a crucial test of its ability to sell government bonds. With the financial markets worried that the euro zone's fourth biggest economy could be the next to need a bailout Madrid managed to find buyers for 3.3 billion euros worth of bonds but had to pay a hefty - and unsustainable - rate of interest. Worries about Spain going the same way as Greece, Portugal and Ireland pulled down shares in Madrid nearly four percent with those falls mirrored around Europe. ... http://www.euronews.net/
Views: 1359 euronews (in English)
The Winners And Losers In A New China
 
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The Chinese Dream: China's fast-growing middle class has sparked an industrial shift across the country. Increased spending habits have triggered a real estate frenzy, driving a greater rift between the rich and the poor. Subscribe to Journeyman here: http://www.youtube.com/subscription_center?add_user=journeymanpictures "Now China is the biggest market in the world", says Gina, a young businesswoman from Shanghai. "It is what drives Chinese into their need of building their own brand." Gina is like many entrepreneurs thriving from China's demand for innovation, and one of 700 million Chinese now living in towns. Property prices are rocketing as developers build taller skyscrapers to meet demand, while the lower classes are evicted from their homes and incentivised to move to rural areas. The hukou, a residency certificate separating those who originate from the countryside from those born in towns, controls the rural exodus. It deprives rural communities from certain jobs or the same rights as those born in towns. "When you don’t have the town hukou, nothing is possible", laments Fufang, a caretaker for Shanghai's town hall. For more information, visit https://www.journeyman.tv/film/7504 Like us on Facebook: https://www.facebook.com/journeymanpictures Follow us on Twitter: https://twitter.com/JourneymanNews https://twitter.com/JourneymanVOD Follow us on Instagram: https://instagram.com/journeymanpictures Visit our subreddit: https://www.reddit.com/r/JourneymanPictures/ Say hi on tumblr: https://journeymanpictures.tumblr.com/ Wild Angle – Ref. 7504
Views: 6986 Journeyman Pictures
Euro bond markets worse than US banks in GFC
 
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John Abernethy: The situation in Europe, where the ECB are forcibly holding down yields on government bonds is no different to the sub-prime crisis of '07. It's encouraging people to trade with the absolute belief that the ECB will not let the bond market fail. These same institutions bought sub-prime debt off the American Investment Banks (pre GFC) in the belief that they wouldn't fail, based on a AAA guarantee. They are willing to completely disregard risk, disregard pricing and just buy this stuff. That's scary. It's a completely contrived market. It's a joke. Now that's as bad, if not worse than '07 in terms of a financial calamity possibility. On the likely outcome, Abernethy says I think markets invariably have an adjustment where all of a sudden the lights come on and people say, what are we doing buying this stuff? The Ponzi scheme of all time. Livewire gives investors direct access to the stock ideas, research and exclusive insights of hundreds of Australia’s leading investment professionals. To access more exclusive market content and to receive the top three insights each day, register for FREE at http://www.livewiremarkets.com Disclaimer: The information contained in this presentation is general in nature and should not be relied upon. Before making any investment or planning decisions, you should consult a licensed professional who can advise you weather your decision is appropriate for you. Contributors to this show may have commercial or financial interests in the companies mentioned.
Views: 185 Livewire Markets
Italy survives another bond test
 
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http://www.euronews.com/ Italy's medium term borrowing costs have risen to their highest since December. The amount of interest it had to offer on government bonds maturing in three years time went up to 2.48 percent from 2.3 percent last month. After Fitch cut Italy's credit rating, the auction was another test of investors' confidence in the country's fiscal future following inconclusive elections which left political stalemate and doubt over the reforms needed to spur growth and cut debt. Italy did nevertheless shift almost all the debt it wanted to sell, aided by the European Central Bank's as-yet untested pledge to buy bonds of struggling eurozone countries that ask for help. Yields on Italian bonds and those of other indebted euro states such as Spain have fallen from near historic highs since ECB chief Mario Draghi said last July that the central bank would do "whatever it takes" to save the euro. Analysts said Rome's borrowing costs would be much higher by now without the ECB's pledge. Rating agency Fitch recently cut Italy to BBB+, just three notches above 'junk' status, and assigned a negative outlook, citing political uncertainty after the inconclusive election, a deep recession and the country's rising debt. Italy's parliament convenes on March 15 and President Giorgio Napolitano will hold consultations with leaders of all the parties to see if a government can be formed. If it cannot, the country may face fresh elections within a few months. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Our Bank Accounts are Not Safe
 
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Do you think your bank account deposits are safe? Don't bank on it. That's according to Lowell Ponte, former editor of Readers Digest and think tank futurist. According to Ponte, last month, Stephen Cotton walked into London-based giant HSBC to withdraw about $10,000 dollars. But the bank refused to let Mr. Cotton have money from his own account. Why? Because they said Mr. Cotton couldn't provide the bank with a satisfactory explanation for what the money was to be used for. Of course this enraged Mr. Cotton since he was asking for his own money. But Lowell Ponte said Mr. Cotton was mistaken about just whose money it was. According to new banking laws, your deposits belong to the bank. All you 'own' is a deposit receipt, or an IOU. American politicians have watched how some European countries are getting away with raiding the bank accounts of their citizens and since U.S. lawmakers are desperate for more money they are considering new ways to grab their 'fair share' of the $20 Trillion now in private U.S. retirement accounts - bringing fresh meaning to Obama's proposed "MyRA" program! Ponte says U.S. and other Western governments have agreed that future bank crises will be handled not by taxpayer bail-outs but by "bail-INS" that first seize a banks' "unsecured assets" to pay the government. Ponte said, "If the government seizes your bank's funds, you can kiss your assets goodbye." But, you may ask, "What about the FDIC? It says right on my bank window that they guarantee my money. Here's a scary fact: The FDIC has only $27 Billion, less than one percent of what might be needed to cover more than $7 Trillion of deposits that could be lost in a national financial panic and storm. Remember the recent financial panic in Cypress when depositors woke of to find their bank accounts frozen? That happened just months after the FDIC and Bank of England signed a joint document allowing government to seize customer deposits as part of a bank's property. So, what's to stop that from happening in the United States? Nothing. And it doesn't stop with banks. Cash deposits are only the beginning. IRAs and other retirement accounts are in the crosshairs for consideration as alternative sources to pay down government debt. Ponte reminds us how in 2008 Argentina replaced its citizens' cash savings with government bonds, valued at only 27% of its currency. Americans also might soon be forced to by trillions and trillion in Federal debt. All of this and more are covered in Lowell Ponte's new book, "The Great Withdrawal," which he is making available for free for the asking as a public service, courtesy of Swiss America. Please forward a link to this video to your family, friends and people you are concerned about. Ask for your free copy of "The Great Withdrawal" by calling: 800-289-2646 ...and view more videos on our website at: http://Clean.TV
Views: 30170 CleanTVcom
Central banks respond to crisis challenge - economy
 
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http://www.euronews.com/ Japan is the latest central bank to take dramatic measures to boost a moribund economy. The Bank of Japan's new governor, Haruhiko Kuroda, shocked markets with a radical stimulus plan that includes doubling the size of its government bond holdings within two years. He has shifting the bank's policy target to try to lift the country out of nearly two decades of deflation and minimal growth. The move caused the yen to fall sharply in value, which will help Japan's exports. The US Federal Reserve has been doing the same thing - buying government bonds to stimulate the economy - which also has the effect of pushing down the value of the dollar leading to complaints from other countries of a so-called currency war. By contrast the European Central Bank on Thursday kept its main interest rate at 0.75 percent - higher than Japan, the US and Britain - and it is not printing new money like them. ECB head Mario Draghi said they are ready to cut interest rates if necessary but the bank's role is different: "We can not replace lack of capital in the banking system, that's quite clear. We can not compensate lack of actions by governments." He did say the ECB was studying the economic climate closely because there was no certainty the euro zone economy would pick up: "In the coming weeks, we will monitor very closely all the incoming information on economic and monetary developments, and assess the impact on the outlook for price stability." Not surprisingly Draghi was questioned about the eurozone's latest brush with break-up - Cyprus. He said the initial decision for a levy on all bank deposits was a mistake, that was quickly corrected. And he stressed that what happened in Cyprus with wealthy bank depositors having money taken from their accounts was not a template for any future bailouts as others have suggested. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
The Future of the Petrodollar - The Petrodollar explained and what's next in oil markets
 
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A look at the future of the petrodollar and how it will evolve in the future. The video also explains what the petrodollar is and what is happening to the petrodollar. The rise of china and the petrodollar is covered, with a look at the petroyuan since there is clearly an appetite amongst a number of oil producing nations to divest and to embrace alternatives to the dollar. But, petrodollar recycling is a win-win for all involved: oil-rich states enjoy a safe place to store their petro-profits, and the United States gains a key source of financing for its deficit spending. Any move away from dollar pricing of oil therefore threatens the ability of the United States to go on financing its growth through the sale of US Treasury Bonds. The dollar will not cede its dominance in oil markets any time soon, especially as U.S. crude oil output reaches all-time highs. Even a Saudi decision to also conduct oil trade in yuan would not be enough to unseat the petrodollar Connect: Web : http://www.energyanalyst.co.uk Twitter : https://twitter.com/EnergyAnalystUK Patreon : https://www.patreon.com/EnergyAnalyst References - https://www.reuters.com/article/us-oil-iran-exclusive-idUSKCN0VE21S - https://oilprice.com/Energy/Energy-General/The-Petrodollar-Isnt-Dead-Yet.html - http://nationalinterest.org/feature/the-end-the-petrodollar-25002 - Oil starts to move away from the dollar – Oil and Energy Trends
Views: 8483 Energy Analyst
Governments STEALING Pension Funds!
 
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Find More TRUTH EXPOSED and SCANDALS UNCOVERED: http://truth.themoneygps.com ******************************************************************** The Money GPS by David Quintieri featuring Bob Chapman, James Turk, and David Morgan. Look Inside the Book!: http://book.themoneygps.com My Free eBooks: FLUORIDE: http://fluoride.themoneygps.com GMO: http://gmo.themoneygps.com VACCINES: http://vaccines.themoneygps.com Join The Money GPS Insiders: http://themoneygps.com PREPARE for the COLLAPSE: http://amazon.themoneygps.com ******************************************************************** They took gold from people in the U.S. in the 1930′s...but I've never heard of them taking bank accounts. "401k plans, IRA's, and pensions plans which the government knows about [may be next]. We're going to take your pension plan and give you government bonds so that you have a guaranteed return." Portugal raids pension funds to meet deficit targets Sources: http://bullmarketthinking.com/jim-rogers-i-suspect-theyll-take-the-pension-plans-next-i-for-one-am-worried-and-im-taking-preparations/ http://www.telegraph.co.uk/finance/financialcrisis/8932687/Portugal-raids-pension-funds-to-meet-deficit-targets.html
Views: 3037 The Money GPS
Sovereign Debt Management
 
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BOOK REVIEW SOVEREIGN DEBT MANAGEMENT Edited By Rosa M Lastra and Lee Buchheit Oxford University Press ISBN: 978 0 19 967110 6 www.oup.com EXAMINING THE CRISES OF SOVEREIGN DEBT IN 2014 An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers Since the 1980s approximately, if not some time before, sovereign debt has emerged as a well-nigh intractable international problem. Writing in the foreword to this thoughtful and scholarly examination of sovereign debt, John B Taylor of Stanford University refers to trenchant observations made by the book's erudite and world renowned co-author Lee Buchheit to the effect that 'there are several key common elements in sovereign debt crisis, whether in emerging economies, or in some of the more advanced European countries today. 'You can see these elements,' remarks Taylor 'in all the chapters of this book.' Published recently by the Oxford University Press, the book, in the words of its co-author Rosa Lastra presents 'a general treatise on sovereign debt management' and contains no less than twenty-eight learned articles replete with the carefully researched analyses of no less than thirty-six expert contributors, mainly from top international law practices, government agencies and leading academic institutions. Their impressive slate of practical experience says Lastra, includes lending, borrowing, regulating, analyzing restructuring and litigating sovereign debt. The idea for the book was the fortunate outcome of the meeting of the International Monetary Law Committee in Rome in 2011 -- this being a standing committee of the International Law Association. Easy to navigate, the book includes a detailed table of contents, a useful index and extensive tables of cases and of legislation. To say that the book is a brilliant and time-saving research tool is a bit of an understatement, for the amount of research contained in this single volume is truly mind-bending. We lost count of the number of journals cited in the footnotes, but we would estimate over a hundred. This is certainly an invaluable source of wisdom and insight into the thorny problems created by international debt which now afflicts developed as well as emerging countries -- plus, there is considerable emphasis on postulating its causes and possible cures. The various articles, particularly those by Buchheit -- who originally trained as a philosopher before reading law -- and for whom this book is a tribute -- will provide much food for thought on sovereign debt in particular and debt in general. 'Borrowing money, he says in the book's final article 'can become a hideous addiction' further pointing out that democracies in particular, struggle with the grim realities. By the way, the fascinating biographical note on Buchheit is well worth reading. Appropos the Scottish referendum and the ongoing secessionist problems of the Ukraine, it is interesting and strangely topical to note the title of his thesis published by Yale University Press in the 70s: 'Secession: the Legitimacy of Self-Determination', which focused on, for example, Katanga, Biafra, the Kurds and Bangladesh. Suffice to say that this book should attract a wide readership, not merely of lawyers, but economists, of course, as well as commentators, policy makers and politicos worldwide. The publication date is 2014.
Views: 117 Phillip Taylor
Italy survives bond auction test
 
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http://www.euronews.com/ Italy has paid the price for its latest political crisis as its borrowing costs rose to their highest in four months. The test came on Wednesday at the first government bond auction since an election that raises the prospect of prolonged political instability. The treasury was able to sell the four billion euros worth of bonds maturing in 10-years time that it wanted but the amount of interest investors demanded to buy them jumped to 4.83 percent - a level not seen since last October. Italy also issued 2.5 billion euros of a five-year bond on Wednesday, paying a yield of 3.59 percent, up from 2.94 percent one month ago. There were signs most of the buyers were Italian as foreign investors had stayed away. Financial analyst Antonio Landolfi said: "Actually, what the international markets want is a degree of governance, even if only in the short term, to be able to respond to the remaining negative trends that seem to be hanging over the markets." The fact that the bond auction went smoothly meant investors were relieved, so there was no repeat of Tuesday's dramatic stock market falls. But the possibility of new elections, which would prolong the political uncertainty, undermined Italy's reputation even further with the credit rating agencies which warn Rome faces more downgrades in the future. Aware of a bumpy road ahead, the Italian treasury had taken advantage of a benign market environment at the beginning of this year to cover more than 20 percent of its total 2013 refunding needs. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Germany meets euro debt limit for first time in 17 years
 
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(6 Jul 2018) The German government says its 2019 budget will comply with eurozone debt limits for the first time in 17 years. The draft budget also raises defence spending, a contentious issue between Germany and US President Donald Trump. Finance Minister Olaf Scholz told a news conference on Friday that debt would fall to 58.25 percent of yearly economic output. That would put it below the 60 percent limit established by rules to ensure fiscal responsibility and price stability in the 19 countries that use the euro. The debt burden has fallen as the economy has grown and the government has run balanced budgets. And eurozone governments have faced very low borrowing costs in recent years thanks to stimulus efforts by the European Central Bank that have included very low interest rates and purchases of government bonds. But the tight budgets have drawn criticism that the government of Chancellor Angela Merkel has neglected investment needs and skimped on defence spending. At 1.3 percent of gross domestic product, defence outlays remain far below NATO members' target of 2 percent by 2024. The defence spending by NATO allies promises to be a contentious issue at an upcoming NATO summit on July 11-12 after Trump again pressed allies to raise their spending commitments. The draft budget will be taken up by the parliament in the fall. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Google+: https://plus.google.com/b/102011028589719587178/+APArchive​ Tumblr: https://aparchives.tumblr.com/​​ Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/b54ea1e0324313ba9a3ff3fe95696d85
Views: 206 AP Archive
CYPRUS: Hellenic acquisition of the Co-op done by September
 
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CYPRUS: Hellenic acquisition of the Co-op done by September The Cyprus Cooperative Bank (CCB) has begun the process of transferring its business to Hellenic, after the government agreed to sell off the struggling Co-op’s assets. Officials from both banks told CNA that division directors have had meetings to prepare the transfer which is expected to be completed in September. According to the deal, Hellenic Bank will acquire a balance sheet of €10.3 bln, comprising a portfolio of primarily performing loans (net loans: €4.6 bln), Cyprus Government Bonds (€... ----------------------------- Don't forget Subscribe: https://www.youtube.com/channel/UC1ReW40NAEs6fVFk6Av97sQ?sub_confirmation=1
Views: 4 GR News
Cyprus Crisis Reveals Shadowy World of Tax and Money Laundering Haven
 
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James Henry: Bailout deal includes capital controls and punishing big Russian depositors to pay off European banks -- leaves Cyprus looking for a "new way to make a living"
Views: 6174 The Real News Network
Cyprus Bailout May Fuel Financial Crisis in the EU
 
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Correspondent Jack Barton takes an in-depth look at how the bailout of Cyprus could reignite another financial crisis in the EU. Then, anchor Phillip Yin and Jacob Kirkegaard, Senior Fellow at the Peterson Institute for International Economics, discuss the bailout plan in detail.
Views: 2197 CGTN Global Business
Trading the first 10 Minutes of the day
 
07:31
The Cyprus finance ministry denied media reports that the island nation has asked for more assistance ahead of a Eurogroup meeting because of higher-than-anticipated bailout costs. The Eurogroup, or euro-zone finance ministers, is scheduled to meet on Friday in Ireland to finalize the Cypriot bailout package. The euro EURUSD -0.12% slipped to $1.3072 from $1.3103 in late North American trade on Thursday. "The euro is seeing a bit of a hiccup across the board" said Christopher Vecchio, a currency analyst at DailyFX. But he emphasized that the Cypriot situation wasn't dangerous enough to derail the shared currency, for now. "Today's news isn't something that would provoke a material shift in sentiment regarding the euro. Just needs to be kept on the radar," said Vecchio. Still, Cyprus has taken away some of the enthusiasm for the euro in the near term, said Richard Franulovich, chief currency strategist at Westpac Institutional Bank "The highs seen yesterday are probably it for now. We're going to trend sideways for a few days," he said. The ICE dollar index DXY +0.06% , a measure of the dollar against a basket of six other major currencies, rose to 82.311 from 82.255 late Thursday. The WSJ dollar index XX:BUXX +0.03% , a rival gauge that uses a slightly larger basket, edged up to 73.53 from 73.43. The U.S. dollar slipped against Japan's currency on Friday, with a break above 100 yen proving elusive for the greenback. The dollar USDJPY -0.59% bought ¥99.12 in recent trade, down from ¥99.73 late in Thursday's North American session. The U.S. currency on Thursday reached ¥99.94, but ran into resistance as it approached ¥100, a level that many analysts expect the dollar to break through for the first time since April 2009. The yen is on track to lose about 2% versus the dollar this week. The Japanese currency has been hit hard since the Bank of Japan on April 3 outlined an aggressive monetary-easing plan aimed at defeating years of deflation in the world's third-largest economy. The dollar had traded at ¥92.89 just before the central bank's policy announcement. In the wake of the bank's massive stimulus program, yields on benchmark 10-year Japanese government bonds (JGBs) have dropped to record lows, though the trade had been uncharacteristically volatile. Yields and prices move inversely. "All else remaining equal, we predict that extremely low JGB yields will continue to push the Japanese yen to fresh lows against currencies with higher interest rates and better yield prospects," wrote DailyFX quantitative strategist David Rodriguez in a note this week. EU economics chief calls for faster banking union Rules on how to deal with troubled banks in the euro zone should be accelerated, and the currency bloc's banking union should be in place by 2015, the European Commissioner for economic and monetary affairs, Olli Rehn, says in an interview Thursday. The central bank plans to double its JGB holdings to 190 trillion yen ($1.9 trillion) in two years by buying government bonds of all maturities. "The short-term correlation between the Japanese yen and JGB yields trades at its highest in a decade. In other words — don't fight the Bank of Japan," Rodriguez said. Meanwhile, Goldman Sachs said Thursday it has revised its three-, six- and 12-month forecasts for dollar-yen to ¥102, ¥105 and ¥105, respectively. It's also projecting the dollar will trade at ¥110 at the end of 2014. While the dollar eyed ¥100, the euro breached its own key level of ¥130. But it slipped about 1% in early North American trade on Friday, exchanging hands at ¥129.62. Among other major currency pairs, the Australian dollar AUDUSD -0.12% edged down to $1.0535 from $1.0546 late Thursday. The Aussie had fallen Thursday after data showed country's unemployment rate rose to its highest level in more than three years, but the currency later recouped its losses.
Views: 1800 Watch Me TRADE

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