Courtesy of Mish.
Staged Vote?
In spite of the 1-Yes, 36-No, 19-abstentions vote in the Cypriot parliament, one really has to wonder if this was a staged vote to show solidarity with Cypriot citizens, with some sort of face-saving deal already approved for tomorrow (in which the Cypriot parliament votes yes by a slim majority in return for minor concessions from the ECB and Germany).
In short, it is unclear if we really know what is happening in the Cypriot parliament.
EU Blinks Already?
While pondering that thought, please consider the Bloomberg Tweet “The ECB reaffirms its commitment to provide liquidity as needed within the existing rules”
What precisely does that ECB statement mean? Did the ECB just blink, or was that a meaningless statement counting on “existing rules” to lay the hammer on Cyprus once things calm down a bit?
What About Russia?
In other conflicting news, a CNBC headline reads Gazprom Is or Is Not Offering Cyprus a Bailout.
The latest news: Russian energy giant Gazprom either has or has not offered to bail out the country in exchange for exploration rights.
Cypriot President Nicos Anstasiades is not willing to discuss the Russian’s offer, according to Newsit, [which] cited an anonymous source close to the President.
But the Russian news agency ITAR-TASS says no such offer is on the table although the offer has been “initiated.” Also, Gazprombank’s spokesman both could and could not be reached for comment.
Well, that sure clears things up, doesn’t it?
And adding to the confusion, there were rumors today that Cyprus Finance Minister Resigns, President Refuses To Accept Resignation, complete with official denials.
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