Protests in Cyprus

Nicosia, Cyprus

There have been protests in Cyprus:

March 23, 2013

Cyprus’s fate hangs in the balance as euro-area finance ministers meet today to decide whether the tiny Mediterranean island has done enough for a bailout that will avert its financial collapse.

As thousands of protestors marched through the capital Nicosia yesterday, Cypriot officials worked to broker a deal with the European Central Bank, European Commission and International Monetary Fund on how to raise the 5.8 billion euros ($7.5 billion) needed to qualify for aid. There was no immediate confirmation after those meetings ended last night that a plan to impose levies on bank deposits over 100,000 euros had been agreed. Eurogroup finance ministers are

due to convene at 6 p.m. in Brussels. http://www.bloomberg.com/news/2013-03-23/cyprus-s-fate-hangs-in-the-balance-as-ecb-deadline-looms.html

March 23, 2013

NICOSIA, Cyprus — With Cyprus facing a Monday deadline to avoid a banking collapse, the government and its international negotiators devised a plan late Saturday to seize a portion of savers’ deposits above 100,000 euros at all banks in the country, in a bid to raise money for an urgently needed bailout.

A one-time levy of 20 percent would be placed on uninsured deposits at one of the nation’s biggest banks, the Bank of Cyprus, to help raise 5.8 billion euros demanded by the lenders to secure a 10 billion euro, or $12.9 billion, lifeline. A separate tax of 4 percent would be assessed on uninsured deposits at all other banks, including the 26 foreign banks that operate in Cyprus.

An agreement was still far off, though, as Cyprus’s lenders left for the night without reaching an accord. The proposal still requires approval by the Cypriot Parliament and by the European Central Bank, International Monetary Fund and European Union leaders. http://www.nytimes.com/2013/03/24/business/global/cyprus-makes-fitful-progress-on-bank-bailout-deal.html?_r=0

Cyprus angered Russia earlier this week when it announced a plan to remove/take a portion of deposits of high dollar accounts to pay for certain Cypriot debts. Russians have a lot of money in the banks in Cyprus and do not take kindly to losing any of it. Notice also the following:

March 23, 2013

Fears mount that Russia could act against European companies if charge on deposits hits €30bn Russian investments…with Russian investors having an estimated €30bn (£26bn) deposited in banks on the island, the growing optimism about a deal was accompanied by fears of retaliation from Moscow. Alexander Nekrassov, a former Kremlin adviser, said: “If it is the case that there will be a 25% levy on deposits greater than €100,000 then some Russians will suffer very badly.”Then, of course, Moscow will be looking for ways to punish the EU. There are a number of large German companies operating in Russia. You could possibly look at freezing assets or taxing assets. The Kremlin is adopting a wait and see policy.” http://www.guardian.co.uk/world/2013/mar/23/cyprus-bailout-kremlin-reprisal-bank-levy

Let me simply state that that this ” bank levy” is not a good idea for Cyprus–and most economists would tend to agree. The “levy” seems like legalized theft–and this, if it happens, will not only anger the Russians, but in the long-run hurt the economy of Cyprus and probably result in more unrest and the need for more EU bailouts.

Yet, I have long written that Europe would have civil unrest, and economic problems are one of the main reasons for that (religion will also play more of a role later, and there are other factors).

The Bible itself teaches that Europe will have strong and weak parts (Daniel 2:41-43), reorganize (Revelation 17:12-13), and support a particular religion (Revelation 13). Europe already has strong and weak parts and keeps discussing a variety of forms of reorganization.

We are likely to riots in many places. Jesus foretold a time of “troubles” (Mark 13:8), and we seem to be in that time. Civil unrest and protests are consistent with the “troubles” that Jesus foretold.

Some articles of possibly related interest may include:

Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe?
Russia: Its Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end?
Is Russia the King of the North? Some claim it is. But what does the Bible teach?