Reuters headlines ( http://www.reuters.com/article/2013/03/19/us-cyprus-parliament-idUSBRE92G03I20130319 )are reporting that the Eurozone finance bureaucrats were looking at the same chart we were this afternoon, and are ready to back down regarding the Cypriot depositor haircut- at least as it pertains to ordinary Cypriots with deposits under €100,000 and make sure they remain whole. Astoundingly, the ECB continues to demand that the entire €5.8 billion deposit wealth confiscation level must still be achieved.

As to those unfortunate to have saved more than €100,000 in a Cypriot banking institution (i.e. all Russian oligarchs), the ECB proposes now a 15.6% wealth confiscation!

We will see whether the offer to keep ordinary Cypriot citizens whole while increasing the punishment to those with over €100,000 can induce 9 more bankster votes by 4pm tomorrow when the Cypriot Parliament is scheduled to vote on the bail-in (unless of course 29 votes are still not in the bag, in which case the Cypriot banking system will remain closed indefinitely).

This entire farce of a situation has gone from beyond idiotic to the biggest FUBAR scenario the ECB/IMF could have possibly orchestrated.
Another day or 2 of this and the entire Western financial system will be in a full-blown panic collapse!

With reports that a Russian warship is en route to Cyprus, this should get interesting!

http://www.silverdoctors.com/latest-ecb-haircut-offer-cyprus-depositors-0-russian-oligarchs-15-6/#more-23458