NL: Available household income 3.2 percent down in 2012 & GDP shrinkage doubled

Data from CBS  - Statistics Netherlands:
(fortunately they translate their findings after releasing the Dutch version ;-))

Available household income 3.2 percent down in 2012 (cbs.nl , Mar 29th 2013)

Economy shrinks by 0.4 percent in fourth quarter (cbs.nl, Mar 29th 2013)

Government deficit 4.1 percent in 2012 (cbs.nl, Mar 29th 2013)



just a few weeks earlier:

NL economic forecast 2013/14 (EZR, CPB data & various sources)

Dijsselbloem's bail-in doctrine - Template or not ?

All blog entries re Cyprus

The FT/Reuters Dijsselbloem interview transcript (FT.com)

Dijsselbloem: kende het Engelse woord voor blauwdruk niet eens (nos.nl, video+text, Mar  26th 2013)

Just a reminder from Credit Suisse: Banking sector assets as % GDP twitter.com/FGoria/status/…
— Fabrizio Goria (@FGoria) 28 maart 2013

Cyprus

Bruegel Thinktank compilation: Eye on Cyprus  (bruegel.org, Mar 2013)
De Dijsselbloemdoctrine (Professor Bas Jacobs, ESB economie.nl , Mar 29th 2013)

A punishment, not a solution (Ekathimerini, Mar 28th 2013)
Cyprus foreign minister: the EU has taken us back to 1974 (EUobserver.com, Mar 28th 2013)

Europe: No Need To Worry, The Fire’s Downstairs (Pawel Morski, Mar 28th 2013)
Jeroen Dijsselbloem Has Finally Found A Way To Truly End The Euro Crisis — But It Will Be Messy (Business Insider, Mar 27th 2013)
Europe’s Cyprus blunder and its consequences (Nicolas Véron,voxeu.org, Mar 25th 2013)
Cyprus has finally killed myth that EMU is benign (Ambrose Evan-Pritchard,Telegraph, Mar 27th 2013)
Cyprus Shows Trust in ECB Is Misplaced (Megan Greene, Bloomberg, Mar 27th 2013)
Cyprus foreign minister says only Luxembourg backed Nicosia in Eurogroup
(Ekathimerini, Mar 27th 2013)
Russians In Cyprus: It's Not About Tax It's About The Rule Of Law And Property Rights 
(Forbes.com, Mar 26th 2013)

We may have crucified @j_dijsselbloem for his remarks but it was Regling who threw the bomb first three weeks ago reut.rs/15OuF3k
— Yannis Koutsomitis (@YanniKouts) 26 maart 2013

German stance on Cyprus points to the possibility of more “experimental” EU approaches in future crises, as ECB loses influence - @nouriel
— Jamie McGeever (@ReutersJamie) 25 maart 2013

#Cyprus vs SNS: Should one conclude that Mr. Dijsselbloem wants healthy fin sector in other EU countries, but not in #Netherlands? (Nielsen)
— Holger Zschaepitz (@Schuldensuehner) 25 maart 2013

It's less than 2mths ago that Dutch govt nationalized SNS Reaal,saving its depositors at expense of Dutch pensioners and taxpayers (Nielsen)
— Holger Zschaepitz (@Schuldensuehner) 25 maart 2013

Eurocredibility now into stratosphere RT @kelly_evans: ! Dijsselbloem statement: "Cyprus is a unique case… no models or templates are used."
— Ed Conway (@EdConwaySky) 25 maart 2013

VTB CHAIRMAN YURI SOLOVIEV: RUSSIAN COMPANIES MAY MOVE TO #LUXEMBOURG, #SWITZERLAND, #IRELAND
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

SOME VTB CLIENTS MAY TAKE MONEY FROM #CYPRUS, SOLOVIEV SAYS.
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

Germany

Germany's Seibert says Cyprus is a special case (City AM, Mar 18th 2013)

Germans Leery of Merkel Promise on Deposit Security: Poll (Bloomberg, Mar 26th 2013)

GERMAN FINMIN SCHAEUBLE: THERE'S NO CONCERN THAT GERMAN BANKS `AREN'T SAFE'
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

France

#ECB'S COEURE SAYS FRENCH DEPOSITERS HAVE NOTHING TO FEAR
— Holger Zschaepitz (@Schuldensuehner) 26 maart 2013

#ECB'S COEURE SAYS NOTHING SUGGESTS FRENCH BANKS ARE IN DIFFICULTY
— Holger Zschaepitz (@Schuldensuehner) 26 maart 2013

 Malta

Malta's banking sector 'robust and stable' - government (Times of Malta, Mar 28th 2013)

#ECB’s Bonnici Says #Malta Can’t Be Compared to #Cyprus. It has same oversized banking sector with assets 8times GDP. twitter.com/Schuldensuehne…
— Holger Zschaepitz (@Schuldensuehner) 27 maart 2013

Portugal

Portugal government says no risk Cyprus deal can be template (Reuters, Mar 28th 2013)

#Portugal's Gaspar says #Cyprus deal not a "template" for other countries.
— Holger Zschaepitz (@Schuldensuehner) 26 maart 2013

Spain

Spain Believes Dijsselbloem  (WSJ, Mar 27th 2013)
Sowing fear among savers (Editorial, El Pais engl, Mar 27th 2013)

#CYPRUS CASE IS UNIQUE SITUATION, #SPAIN'S RAJOY SAYS AFTER MEETING FRENCH PRES HOLLANDE
— Holger Zschaepitz (@Schuldensuehner) 26 maart 2013

#Spain's Rajoy says doesn't favor using deposits for bank recap plans.
— Holger Zschaepitz (@Schuldensuehner) 26 maart 2013

Dijsselbloem's comments on deposits, described in Spanish press: "mess", "panic", "fiasco", "threat", "Merkel's lackey"#wsjeuro
— David Roman (@dromanber) 26 maart 2013

Luxembourg

Luxembourg Government: « European financial markets need strong international financial sectors
Interview mit Jean-Claude Juncker (general-anzeiger-bonn.de, Mar 27th 2013)
Luxembourg minister says Germany seeks euro zone "hegemony" (Reuters, Mar 26th 2013)

Meanwhile, private deposits at Luxembourg banks jumped 6.4% y/y Feb, per ECB, to the highest level since late '08. [c/f assets:GDP]
— Kelly Evans (@Kelly_Evans) 28 maart 2013

GERMAN FIN MIN SCHÄUBLE SAYS #LUXEMBOURG HAS A TOTALLY DIFFERENT BUSINESS MODEL TO #CYPRUS, ANY COMPARISON IS "ABSURD".
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

#Cyprus bailout is clear threat to #Luxembourg's interests.That in itself will raise concern with people who have large deposits there (Bbg)
— Holger Zschaepitz (@Schuldensuehner) 27 maart 2013

More in the "Cyprus-is-not-X" series. #EU Barnier: Can't compare #Cyprus with #Luxembourg or #UK City of London. Phew nasdaq.com/article/eu-bar…
— Alessandro Leipold (@ALeipold) 28 maart 2013

Slovenia

Slovenia will not be the next Cyprus: finance minister (Reuters, Mar 29th 2013)

After Cyprus, Bond Markets See Slovenia Closer to Bailout (CNBC, Mar 29th 2013)

#Slovenia Bank Deposits Likely to Dodge Any #Bailout (Commerzbank)
— Holger Zschaepitz (@Schuldensuehner) 27 maart 2013

Commerzbank: "Slovenia’s situation is not comparable with that of Greece or Cyprus"
— Katie Martin (@katie_martin_FX) 27 maart 2013

IMF's Rice Says Slovenia, Cyprus 'Completely Different'
— Fabrizio Goria (@FGoria) 28 maart 2013

#SLOVENIA IS IN 'ACUTE' BANK INDUSTRY CRISIS, RBS SAYS. BANK CRISIS, BUDGET 'WITHIN MANAGEABLE BOUNDS
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

Ukraine  

#CYPRUS SITUATION MAY TIP #UKRAINE INTO FINANCIAL CRISIS. In the last 10 days yield of 10yr Ukraine bond rose sharply twitter.com/Schuldensuehne…
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

Support for Mr Dijsselbloem 

Kamer steunt aanpak Cyprus door Dijsselbloem ondanks alle kritiek (nrc.nl, Mar 26th 2013)

Rutte: toename steun voor lijn-Dijsselbloem (RTLZ, Mar 28th 2013)
ECB's Knot backs Dijsselbloem comments on bank rescues (Reuters, Mar 28th 2013)

Dijsselbloem Acted ‘Very Strongly’ in #Cyprus Rescue, Dutch PM Rutte Says. "We now have a tool box that can be used to deal with crises.’
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

#IMF insisting Cyprus and Slovenia are `two completely different cases' when asked at briefing today #risingyields
— Sandrine Rastello (@srastello) 28 maart 2013

EU-Kommission will Großanleger bei Bankpleiten zur Kasse bitten: Die Diskussion um Besonderheiten der Zype... bit.ly/102QqM9
— FAZFINANCE.NET (@FAZ_Finance) 28 maart 2013

Finnish PM Katainen says Cyprus bail-in good principle except for deposits
— Fabrizio Goria (@FGoria) 27 maart 2013

Eur Parliament will demand that big savers take losses if their banks run into trouble - Swedish MEP Gunnar Hokmark reut.rs/X95YPM
— Open Europe (@OpenEurope) 26 maart 2013

*KATAINEN SAYS BAIL-IN MUST BE PART OF CRISIS MANAGEMENT RULES
— Owen Callan (@OwenCallan) 26 maart 2013

Dijsselbloem Acted ‘Very Strongly’ in #Cyprus Rescue, Dutch PM Rutte Says. "We now have a tool box that can be used to deal with crises.’
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

Hier Buiter #FD interview door @martinvisser en @mpnadeboer RT ‘De meeste banken zijn zombiebanken’ | fd.nl/economie-polit…
— Leon Willems (@Leon_Willems) 30 maart 2013

'Misunderstanding' 

Sehr spezieller Sonderfall“ Interview mit Dr. Andreas Dombret in der Süddeutsche Zeitung
A very special "special case"
(bundesbank.de, Mar 27th 2013)
Dijsselbloem: spaarders kunnen gerust zijn, want Cyprus is uniek (nrc.nl, Mar 19th 2013)

IMF's Rice Says Slovenia, Cyprus 'Completely Different'
— Fabrizio Goria (@FGoria) 28 maart 2013

GERMAN FIN MIN SCHÄUBLE SAYS #CYPRUS WAS A VERY SPECIAL CASE, HAVE FOUND RIGHT SOLUTION FOR RESCUE.
— Holger Zschaepitz (@Schuldensuehner) 28 maart 2013

#GERMANY SAYS 'NO SINGLE MODEL FOR ALL CASES' IN #EURO CRISIS
— Holger Zschaepitz (@Schuldensuehner) 27 maart 2013

#EURO GROUP'S #CYPRUS SOLUTION 'VERY DIFFICULT CASE': SEIBERT
— Holger Zschaepitz (@Schuldensuehner) 27 maart 2013

More politicians distancing themselves from Cyprus bailout deal bit.ly/10g7NIh
— ForexLive (@ForexLive) 26 maart 2013

*Cyprus Depositor Bail-In No Template for Other Euro Zone Countries -Sr German Lawmaker
— DJ FX Trader (@djfxtrader) 26 maart 2013

Dijsselblowing it -m.washingtonpost.com/blogs/wonkblog…
— financial acrobat (@finansakrobat) 26 maart 2013

EU: Cyprus is a unique case; group has found an appropriate solution for the region; 'at no point possible' to bail-in insured depositors.
— DailyFXTeamMember (@DailyFXTeam) 26 maart 2013

*ECB Nowotny Says Not Concerned About Italy, Luxembourg, Slovenia
— DJ FX Trader (@djfxtrader) 26 maart 2013

#Cyprus was unique case, not model for EU: #ECB's Coeure reut.rs/Yc34t3 via @reuters
— Eva Kühnen (@ReutersECB) 26 maart 2013

Dutch finance minister under fire over Cyprus 'model' for other banks ow.ly/2vJqem
— DutchNews.NL (@DutchNewsNL) 26 maart 2013

Benoît #Coeuré (ECB executive board) says that #Cyprus situation is unique, and doesn't see same bank problems elsewhere in Eurozone.
— Stephane Pedrazzi (@StephPedrazzi) 26 maart 2013

ECB Coeure says Cyprus is not a model fo Europe, says Dijsselboem was wrong
— Fabrizio Goria (@FGoria) 26 maart 2013

Eurogroup:"Macro-economic adj programmes are tailor-made to the situation of the country concerned and no models or templates are used."
— Carolin Roth (@CarolinCNBC) 25 maart 2013

! Dijsselbloem statement: "Cyprus is a unique case...no models or templates are used."
— Kelly Evans (@Kelly_Evans) 25 maart 2013

Cyprus - Capital Controls

All blog entries re Cyprus

Limits now in place for re-opening of banks - text of decree included (Cyprus Mail , Mar 28th 2013)

Reopening of financial institutions - Application for interim measures which restrict banking
(Central Bank of Cyprus via Google translate) (via @LorcanRK)

Statement by the European Commission on the capital controls imposed by the Republic of Cyprus
(europa.eu) (via @GwenTerHorst)

Cypriot Ministry of Finance

Cyprus shambles  (Hugo Dixon, Reuters, Mar 28th 2013)(via @Hugodixon)

Factbox: Cyprus imposes capital controls (Reuters, Mar 28th 2013)

The capital controls in Cyprus and the Icelandic experience (Jon Danielsson, voxeu.org,  Mar 28th 2013)(via @rszbt & @boomerangomics)

Barry Eichengreen: The Capital Levy in Theory and Practice (ssrn.com)(via @ewaldeng)

Reuters: Cypriot Foreign Minister says he expects capital controls to be fully lifted "in about a month"
— Sky News Newsdesk (@SkyNewsBreak) 28 maart 2013

Exclusive: Cyprus capital controls first in EU could last years bloom.bg/13vfJeW via @bloombergnews
— Bloomberg Athens (@BloombergAthens) 27 maart 2013

We'll "begin lifting [capital] controls in the next few months” - Central Bank of Iceland, 2009 (4 years later...) cb.is/publications-a…
— Mats Persson (@matsJpersson) 27 maart 2013

@rszbt This is 2nd time: 1st time Iceland had implemented TEMPORARY capital controls in the 1930s led to controls being in place until 1993.
— João Moura (@boomerangomics) 28 maart 2013

Cyprus central Bank releases 7th Decree on Capital controls hours after the 6th centralbank.gov.cy/media//pdf/SEV…
— Cyprus News (@cypnew) 12 april 2013

note: there will be some comments on those controls added later


Kapitalverkehrskontrollen (German expression)

Cyprus - some facts

All blog entries re Cyprus

by Vincent Flasseur, Reuters (via @ReutersFlasseur)

source: http://thomsonreuters.com

by Vincent Flasseur, Reuters (via @ReutersFlasseur)

source: http://thomsonreuters.com

Cyprus bailout deal – graphic of the day (Reuters, Mar 26th 2013)
Economic and Financial Data for Cyprus (Cyprus Central Bank)
Pimco:Independent Due Diligence of the Banking System of Cyprus
(FTAlphaville, pdf, 103 pages)
Long-term interest rate statistics for EU Member States (ECB)

Cypriot fin min: limitations on cash withdrawal from all banks, for temporary but indeterminate period
— Robert Peston (@Peston) 26 maart 2013

@ivalavanis @yannikouts eba.europa.eu/pdf/bank/CY007…eba.europa.eu/pdf/bank/CY006… 2011, Laiki and BoC
— Yiannis Mouzakis (@YiannisMouzakis) 27 maart 2013

Another attempt to figure out #Rehn's #Cyprus apples & oranges by @yannismouzakis: "800K Cypriots have right to know" wp.me/p1VCJo-mW
— Peter Spiegel (@SpiegelPeter) 18 april 2013

Austria, Netherlands, Germany, Cyprus: Debt to GDP 1996 - 2011 (chart, Google statistics)

Deposit haircut would affect tens of thousands of non-Cypriots (Cyprus Mail, Mar 21st 2013)

Bank of Cyprus: Just 5% Russian deposits, read more: 

Factbox: The Cyprus banks that have transfixed the world (Reuters, Mar 23rd 2013)

Euro zone clamor drowned out Cypriot bank warnings (Reuters, Mar 22nd 2013)
Juncker rules out haircut on Cypriot debt (Reuters, Dec 21st 2012) (via @ALeipold)
COUNCIL RECOMMENDATION of 10 July 2012 on the National Reform Programme 2012 of Cyprus and delivering a Council opinion on the Stability Programme of Cyprus, (EU, pdf, 4pages)
How the restructuring of Laiki would work (Cyprus Mail, Mar 24th 2013)
INTERVIEW-Cyprus Popular board thought EU would not let it fail (Reuters, Mar 25th 2013)
Cyprus banks and UK deposits (Coppola comment blog, Mar 26th 2013)
Cyprus Details Bank Revamp (WSJ, Mar 27th 2013)
Wie sich Zyperns Banken in den Ruin spekulierten (WSJ_DE, Mar 28th 2013)
Laiki Bank is only a symptom. The problem is elsewhere! (Klaus Kastner, Mar 29th 2013)
Insight: Inside Laiki - Countdown to catastrophe (Reuters, Apr 2nd 2013)
Special Report: How a Greek bank infected Cyprus (Reuters, Jun 13th 2012)
The Depositor Haircut (lrb.co.uk, May 9th 2013)


Cyprus: Just The Facts (Institute of International Finance)(via @Bruegelpisani)

Eichengreen, Faini, von Hagen, Wyplosz:
Economic Aspects of the Annan Plan for the Solution of the Cyprus Problem (2004, pdf,83 pages,eng) (via @alexapostolides)

Barry Eichengreen: The Capital Levy in Theory and Practice (ssrn.com)(via @ewaldeng)

Reportedly, the consideration 4 the sale of #Cyprus bank branches in #Greece is €1.5bn, c€1bn paid by HFSF & the rest by the Cypriot part.
— Manos Giakoumis (@ManosGiakoumis) 22 maart 2013

Bank of #Cyprus and CPB (Laiki) total market share in #Greece: 8.1% (€12.5bn) in [private sector] deposits and 9.4% (€21.7bn) in loans.
— Manos Giakoumis (@ManosGiakoumis) 22 maart 2013

#Cyprus banks in #Greece (9M'12): Loans - BOC: €9.5bn, CPB: €12.2bn, total: €21.7bn. Deposits - BOC: €6.5bn, CPB: €6.0bn, total: €12.5bn.
— Manos Giakoumis (@ManosGiakoumis) 22 maart 2013

#Cyprus PB (Laiki) latest official group figures (9M'12): Group net loans €22.4bn - Cyprus: €10.4bn, Greece: €9.9bn, International: €2.14bn.
— Manos Giakoumis (@ManosGiakoumis) 21 maart 2013

#Cyprus PB (Laiki) latest official group figures (9M'12): Group deposits €17.9bn - Cyprus: €10.25bn, Greece: €6bn, International: €1.6bn.
— Manos Giakoumis (@ManosGiakoumis) 21 maart 2013

#Cyprus PB (Laiki) latest official (CBC) BS figures (Jan) in Cyprus: Loans €11.3bn (15.7% market share), deposits €8.8bn (12.8%).
— Manos Giakoumis (@ManosGiakoumis) 21 maart 2013

@alexapostolides, I knew you would pick up on this one product.datastream.com/dscharting/gat…
— Yiannis Mouzakis (@YiannisMouzakis) 16 april 2013

All blog entries re Cyprus

IMF: Slovenia 2013 Staff Visit—Concluding Statement of the Mission

Slovenia 2013 Staff Visit—Concluding Statement of the Mission (IMF,Mar 18th 2013) (via @ALeipold)

Cyprus bailout deal (Eurogroup meeting March 15/16)

All blog entries re Cyprus

Official statements:

Eurogroup Statement on Cyprus (europa.eu) (via @FinPermRep)

Goedkeuring steunprogramma voor Cyprus (rijksoverheid.nl) (via @mathijsbouman)

- een herstructurering van de bankensector. (Restructuring of the banking sector)

- privatiseringen en de verkoop van een deel van de Cypriotische goudvoorraad.(privatizations & sell-off of a part of the gold reserve)

English translation (unofficial!)(Dutch finance ministry:approval support package for Cyprus)

Breakdown of who holds Cypriot bank deposits.  (ECB, pdf, 1 page) (via @charlesforelle)

Statement by the President of the Republic Mr Nicos Anastasiades (moy.gov.cy, Mar 16th 2013)

Cyprus President Nicos Anastasiades' nationally televised speech (enetenglish.gr)

History: Cyprus adopts the euro (europa.eu, Jan 1st 2008)

by Vincent Flasseur/Reuters (via @ReutersFlasseur)

source: thomsonreuters.com

Press reports & opinons:

Savers forced to bear costs in Cyprus bailout (Reuters, Mar 16th 2013) (via @rdfemmott)

Cyprus set to receive international bailout (DW(.de), Mar 16th 2013) 

Euro-Länder bitten Zyperns Bankkunden zur Kasse (Die Welt, Mar 16th 2013) (via @Tiefseher)
Savers forced to bear costs in Cyprus bailout (Cyprus Mail, Mar 16th 2013)
Shock in Cyprus as bailout brings bank account haircut [update] (Ekathimerini, Mar 16th 2013)
Cyprus Bank Deposits to Be Taxed in $13 Billion Bailout (Bloomberg, Mar 16th 2013)
Cyprus Needs to Find a Quick Debt Fix (S. Nixon,WSJ, Mar 16h 2013)
Why Cyprus's rescue matters to us (R. Peston,BBC, Mar 16th 2013)
Cyprus Depositor Tax: Genius Plan or the End of the Euro? (K. Whelan, Forbes, Mar 16th 2013)
Cyprus bail-out risks UK troops’ savings  (Telegraph, Mar 16th 2013)
Cyprus bailout - Your stories (BBC, Mar 16th 2013)
Rehn Rules Out Future ‘Stability Fees’ on Euro Bank Depositors (Bloomberg, Mar 16th 2013)
A stupid idea whose time had come (J. Cotterill,FT Alphaville, Mar 16th 2013)
Sowing the wind (Coppola Comment, Mar 16th 2013)
The Cyprus precedent (F. Salmon, Reuters, Mar 16th 2013)
“The Cyprus bailout deal is a disaster for EU rules and Single Market principles” (Sharon Bowles, Mar 16th 2013)
Eurozone seeks to broker deal on Cyprus bailout (Times of India (AP),Mar 16th 2013)
Cash machines EMPTIED across Cyprus as 60,000 British savers face losing MILLIONS after £8.7billion EU bailout imposes tax on all of nation's bank accounts (Daily Mail, Mar 16th 2013)

Cyprus from MoU developments & analysis until Mar 15th 2013

Cyprus bailout: Memorandum of Understanding (MoU)

Some developments of 2012 (<=update Mar 22nd 2013,EZRbackground)

selected reactions on Twitter: 

EU levies Cyprus depositors in bank bailout ekathimerini.com/4dcgi/_w_artic…. This is the most insane policy yet in Europe. Does EU want bank runs???
— Steve Keen (@ProfSteveKeen) 16 maart 2013

PIK reports that Germany openly blackmailed #Cyprus with euro exit and stopping ELA for Laiki bank if they did not agree
— Yiannis Mouzakis (@YiannisMouzakis) 16 maart 2013

Slept for eight hours, and woke up in a whole new banking world #Cyprus
— Laura Noonan (@LauraNoonanIRL) 16 maart 2013

I love how the Cypriot bank haircut is called "an upfront one-off stability levy" Orwellian communication at its best consilium.europa.eu/uedocs/cms_dat…
— Karl Whelan (@WhelanKarl) 16 maart 2013

Not many historical episodes of a full-on bank levy on all savings that I can find. Norway tried it in 1936. It led to an exodus of deposits
— Ed Conway (@EdConwaySky) 16 maart 2013

My only question about the Cypriot bail-in tinyurl.com/cartsvu is why the gov didn't choose to exempt depositors with under, say, E10,000
— Barry Eichengreen (@B_Eichengreen) 16 maart 2013

1. #Cyprus president has said insured deposits were e30bn. That means uninsured e35bn. If those taxed at 16.7%, no need to tax others.
— Hugo Dixon (@Hugodixon) 16 maart 2013

2 #cyprus MPs should push for 17% tax on uninsured deposits and let others off with no tax - or at least something in between.
— Hugo Dixon (@Hugodixon) 16 maart 2013

3. It wd harm #cyprus as offshore centre. But surely better to protect small local savers than Russians
— Hugo Dixon (@Hugodixon) 16 maart 2013

A striking chart from the Barclays research I mentioned last night. Eurozone bank recap costs as % of GDP. twitter.com/katie_martin_F…
— Katie Martin (@katie_martin_FX) 17 maart 2013

My #Cyprus maths slightly wrong. Insured deposits E30bn, uninsured E38bn. If uninsured deposits taxed 15.4%, no need to grab insured.
— Hugo Dixon (@Hugodixon) 17 maart 2013

@andrs_mr parliament vote in the afternoon. There are disagreements. Majority is not certain
— Marilena Evangelou (@MarilenaEvan) 17 maart 2013

@andrs_mr president just postponed the meeting with the MP s this morning. I'm not sure if the parliament will vote after this...
— Marilena Evangelou (@MarilenaEvan) 17 maart 2013

Let's calm down. I am just saying that if you were earning 5% a year on a short-term euro deposit you can perhaps suffer a one-off 6% tax.
— Jean Pisani-Ferry (@BruegelPisani) 16 maart 2013

Chancellor says Government will compensate UK Government & military personnel whose bank accounts in Cyprus are subject to EU bailout levy
— Sky News Newsdesk (@SkyNewsBreak) 17 maart 2013

Deposit holders in Cyprus pay. Solves todays political problem in Germany at the cost of future bank runs in other Eurozone countries.
— Paul De Grauwe (@pdegrauwe) 17 maart 2013

Just when you wonder whether the Europeans could not screw it up any more they do! Staggering. Touching depositors is a mistake.
— Gerard Lyons (@DrGerardLyons) 17 maart 2013

Question of who takes loss unresolved in Eurozone, muddling through constantly changes rules of game leading to uncertainty & stagnation
— Stephen King (@KingEconomist) 17 maart 2013

Europe’s 2 dramatic haircuts for not sparing the change for #Cyprus. gustavopiga.it/2013/europes-2…
— Gustavo Piga (@GustavoPiga) 17 maart 2013

#Cyprus: How on earth can #IMF find this "a solution that appropriately allocates burden sharing." Really, Christine? imf.org/external/np/se…
— Alessandro Leipold (@ALeipold) 17 maart 2013

The Cypriot Haircut nyti.ms/10408Pl
— Paul Krugman (@NYTimeskrugman) 17 maart 2013

De enige juiste beslissing is om de spaardeposito's onder 100.000 euro geen enkele haircut te geven. Dit tast de basis van DGS garantie aan!
— Sylvester Eijffinger (@SCWEijffinger) 17 maart 2013

Cyprus’ Stability Levy: Another sad euphemism (updated on 18th March) yanisvaroufakis.eu/2013/03/17/cyp…
— Yanis Varoufakis (@yanisvaroufakis) 17 maart 2013

Wasn't me: Germany would have protected insured deposits, Schaeuble says tinyurl.com/cr926tz
— Pedro da Costa (@pdacosta) 17 maart 2013

Eurozone leaders have made a stupid error to let small deposit holders foot the bill in Cyprus. @j_dijsselbloem: wanna be startin' bankruns?
— Bas Jacobs (@_basjacobs) 17 maart 2013

Eurozone leaders have made a stupid error to let small deposit holders foot the bill in Cyprus. @j_dijsselbloem: wanna be startin' bankruns?
— Bas Jacobs (@_basjacobs) 17 maart 2013

Die "Rettung" von Zypern auf Kosten der Sparer faz.net/-hhu-77qke #faz
— Patrick Welter (@WelterPatrick) 18 maart 2013

Here is the current state of play in #Cyprus ahead of today's Parliament vote wp.me/p1VCJo-m9
— Yiannis Mouzakis (@YiannisMouzakis) 18 maart 2013

Cyprus: The next blunder | vox bit.ly/ZUdAmK
— Raquel Vázquez (@rvazfer) 18 maart 2013

#Cyprus' "uncharted waters" in one simple pic, via @wsj. A roving mine in the Mediterranean. #ClubMed twitter.com/ALeipold/statu…
— Alessandro Leipold (@ALeipold) 18 maart 2013

Timely (1991) study by @b_eichengreen on capital levies. Progressivity is key. Hats off to @djmatthewdalton. #Cyprus papers.ssrn.com/sol3/papers.cf…
— Alessandro Leipold (@ALeipold) 18 maart 2013

WSJ has anon sourced report that Cyprus will ratchet down "tax" on insured deposits, hit big accounts harder on.wsj.com/XSEboy
— Toby Sterling (@lbsterling) 18 maart 2013

Legalised bank robbery. my updated column in #cyprus bit.ly/16BSYF3
— Hugo Dixon (@Hugodixon) 18 maart 2013

Breakdown of #Cyprus deposits (end-Jan): Domestic residents €42.8b, other euro-area residents €4.7b, residents of rest of the world €20.9b.
— Manos Giakoumis (@ManosGiakoumis) 18 maart 2013

Breakdown of #Cyprus deposits (end-Jan): Households €35b, non-financial corps €21.4b, ins & pension funds €4.4b, othr finncial intermd €7.1b
— Manos Giakoumis (@ManosGiakoumis) 18 maart 2013

Island Nightmares nyti.ms/16Eh7us
— Paul Krugman (@NYTimeskrugman) 18 maart 2013

#cyprus france's moscovici says raid on savers can be changed if 5.8bn still raised
— Ian Traynor (@traynorbrussels) 18 maart 2013

Anastasiades rebuffs Schaeuble statements (Ekathimerini via @openeurope )ekathimerini.com/4dcgi/_w_artic…
— EZR news channel(@andrs_mr) 18 maart 2013

Cyprus bank closure now extended until Friday. Cypriots now hold Germans hostage, not the other way round: nytimes.com/2013/03/19/bus…
— Anatole Kaletsky (@Kaletsky) 18 maart 2013

Making a complete mess of Cyprus: adamsmith.org/blog/money-ban…
— Adam Smith Institute (@ASI) 18 maart 2013

Good infographic from Reuters and @scottybarber on the level of periphery bank deposits relative to 2009 twitpic.com/ccdin5
— Edward Harrison (@edwardnh) 18 maart 2013

Wind säen in Zypern bit.ly/Yjzfq4 | via Mark Dittli (FuW-Bot)
— Finanz u. Wirtschaft (@FuW_News) 18 maart 2013

Surprisingly - Putin calls Cyprus deposit levy "unfair, dangerous" reut.rs/ZCWWbr via @reuters
— Pierre Briançon (@pierrebri) 18 maart 2013

In last #IMF consultation w #Cyprus (Nov 2011), "money-laundering" is mentioned but once, in totally anodyne para 31. imf.org/external/pubs/…
— Alessandro Leipold (@ALeipold) 18 maart 2013

In concluding 2011 Consultation with #Cyprus, #IMF Directors had not a peep on money laundering. Tough surveillance.. imf.org/external/np/se…
— Alessandro Leipold (@ALeipold) 18 maart 2013

#IMF Board on #Cyprus in 2010: "Consideration could be given to enlarging the deposit insurance facility." A thought. imf.org/external/np/se…
— Alessandro Leipold (@ALeipold) 18 maart 2013

2001 assessment of Cyprus' offshore sector's compliance with intl standards. "Materially noncompliant"in only 2 cases imf.org/external/np/of…
— Alessandro Leipold (@ALeipold) 18 maart 2013

Willem Buiter and co-authors - The Euro Area Recovery Starts with Cyprus - Citi: ir.citi.com/01nb0LCTtZ4lDj…
— Bas Jacobs (@_basjacobs) 18 maart 2013

Nobel laureate Chris Pissarides - Only hope of rescuing economy incyprus.com.cy/en-gb/Cyprus/4… (via @pietgautier)
— Bas Jacobs (@_basjacobs) 18 maart 2013

The Яussians Are Coming! The Яussians Are Coming! nyti.ms/16ExDe3
— Paul Krugman (@NYTimeskrugman) 18 maart 2013

Streit um Beteiligung der Kleinsparer: Verursacher des Zypern-Chaos schieben sich die Schuld gegenseitig zufaz.net/-hhu-77ro4
— FAZ Top-Themen (@FAZ_Topnews) 18 maart 2013

‘Cyprus Finance Minister proposed tax on all savings’ - timesofmalta.com: timesofmalta.com/articles/view/… via @timesofmalta
— Panikos Hadjipanayis (@PHadjipanayis) 16 april 2013

Sarris says first Eurogroup deal a 'success,' would have prevented Laiki closure
(Ekathimerini, Mar 27th 2013)
Cyprus Finance Minister Sarris Quits After Brokering Rescue (Bloomberg, Apr 2nd 2013)

TV interview Beppe Grillo by Dutch public TV (Italian)

Italian language & Dutch subtitles
(aired: Sept 4th 2012)

(c) by Nieuwsuur (NOS) Beppe Grillo verovert Italië - lange versie 

    (use link if embedded video doesn't play)

Insight: Beppe Grillo - Italian clown or political mastermind? (Reuters, Mar 7th 2013)
Italy’s Beppe Grillo: Meet the Rogue Comedian Turned Kingmaker  (Time, Mar 7th 2013)
Why Beppe Grillo won in Italy: it wasn't because of social media  (Guardian,Mar 9th 2013)

more video footage re Italy 

news feature in Dutch & Italian language 

(aired February 22th 2013)

 

(c) by Nieuwsuur (NOS) source: nieuwsuur.nl

Italian impasse (Dutch,Italian & English)

(Interview Bill Emmott of The Economist)

(aired February 26th 2013)

 

(c) by Nieuwsuur (NOS)source: nieuwsuur.nl

The Netherlands: Economic forecast 2013 & 2014

CPB forecast:

Table Main Economic Indicators 2011-2014 (28 February 2013)
CPB World Trade Monitor (including December 2012)



CPB:Doesn't lower growth expectation for 2013 of 0,5%, 2014 growth of 1%(http://www.rtl.nl Feb28 2013)#

Other:
world


IMF set to cut growth forecasts if U.S. spending is cut  (Reuters, Feb 28th 2013)
With a signature, Obama triggers sequester's cuts  (The Hill, Mar 2nd 2013)

Ten QE Questions (N. Roubini, Project Syndicate, Feb 28th 2013)


The Netherlands
Sharp increase unemployment (CBS-Dutch statistics, Feb 21st 2013)

Exports contribute 29 percent to Dutch economy (cbs.nl (Dutch statistics), Feb 7th 2013)
Re-exports and higher prices largely account for growth Dutch exports  (cbs.nl (NL statistics)Feb 22)
[update] Natural gas revenues reduce public deficit  (cbs.nl (Dutch statistics) , Nov 22nd 2012)
Oil- and Gas revenues rose considerably (2012) (rtl.nl , Apr 18th 2013)
[/update]
Russia Must Cut Break-Even Oil Price to $80, Citigroup Says  (Bloomberg, Jun 14th 2013)


Economic forecast 2012-14: EU gradually overcoming headwinds (ec.europa.eu, Feb 22nd 2013)

included in budget projections:
- Dutch Deficit to Widen 0.6 Points on SNS Reaal, Minister Says (Bloomberg, Feb 1st 2013)


+ ABNAmro (profit) contributes to budget (http://www.ftm.nl Mar 1st 2013) #

+ Dijsselbloem:Better than expected results (telecom auction=3,8 Bn €) included in budget projection 
   (nos.nl ,Dec 20th 2013) #

+ Clarity about profit transfer DNB (rijksoverheid.nl, <=NL government,Feb 15th 2013)#
Prof. Hoogduin criticizes 'trick' of FinMin Dijsselbloem (refdag.nl, Feb 25t 2013) #
Prof. Eijffinger:Better DNB results irresponsible creative accounting(sylvestereijffinger.com,Feb 17 2013)#
Dijsselbloem: DNB deal not an accounting trick  (volkskrant.nl , Feb 27th 2013) #
 
# = Dutch language