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Author: notehound Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 459217  
Subject: Calvinball (Europe vs. Cyprus) Date: 3/22/2013 1:07 PM
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CNBC is reporting that the EU is considering another change to the rules of the game in process - increasing the amount Cyprus must come up with to get the needed EU cash...

An earlier article Courtesy of Bloomberg:

As Russia spurned the island nation’s bid for a loan, Merkel told a closed-door meeting of legislators in Berlin today that she’s annoyed the Cypriot government hasn’t been in touch with the so-called troika of international creditors for days, according to a party official who spoke on condition of anonymity because the briefing was private. Cyprus’s decision to test Europe is unacceptable, she told them.

“We’re not ready to accept solutions that are full of wind,” Michael Fuchs, deputy parliamentary leader of Merkel’s Christian Democratic Union, said after the meeting. “I don’t think it’s appropriate to play poker in this matter, especially when you think that there’s a risk that two banks will become insolvent next Monday”...

Time is slipping away,” Luxembourg Finance Minister Luc Frieden said on German RBB-InfoRadio today. “Banks will open again in Cyprus on Tuesday and a solution is absolutely necessary, because this is not just about Cyprus, it also concerns Germany, Luxembourg and the stability of the euro zone. We need a credible plan”...

Cyprus must now act quickly, Merkel said, according to the party official. The German parliament may need to meet over the Easter break to consider Cyprus, Volker Kauder, CDU floor leader, told reporters...
[Emphasis added.]

http://www.bloomberg.com/news/2013-03-22/merkel-vents-anger-...

The more desperate and angry Europe becomes, the more likely it is that Merkel, et cie. will change the rules again and punish Cyprus for playing chicken with the EU.

Here's a link to a comic strip showing how Merkel is playing Calvinball Economics* against Cyprus.

http://4.bp.blogspot.com/_9S3KFFGj4VE/S8Z-GMHH_9I/AAAAAAAABP...

*A WoolyBooger Trademarked Term.
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