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toffee
29th March 2013, 10:03
Received this message this morning >

Dear Friends,

Our country, Cyprus , has been literally destroyed economically by the latest E.U. decisions which targeted our developed economic model.
Consequences are catastrophic, banks remain close for ten days now, one of the biggest bank of Cyprus has been forced to go bankrupt and the other to haircut by 30-40% the deposits above 100.000, so people, local and foreigners, lost huge amounts of money, cash flow is restricted considerably and the future of the country is extremely uncertain. In other worlds our little paradise has just been demolished economically.

In the light of the latest negative developments, and being fully aware of the situation, we decided to cancel the European Time Attack Challenge 2013 which was going to take place on the 18-19th of May in Cyprus.

We apologize to competitors, sponsors and potential spectators for any inconvenience this may cause. This is above our powers and we are forced to abandon our dream and our five month effort and expense.


From the sad and frustrated EU.T.A.C team. :(

toffee
29th March 2013, 14:59
latest from them........ might be back on !!!???


Dear Friends,

A new sponsor came into the game just after we announced the cancellation of the event and we are discussing possibilities on how to keep the event alive.

We will keep you informed for all the details.

Regards,
EU.T.A.C.

stevieturbo
29th March 2013, 17:59
Horrible situation over there.

toffee
29th March 2013, 19:17
Gutted for the peeps who have booked and paid for the shipping!!

johnfelstead
29th March 2013, 20:16
Cyprus is financially annihilated forever, the only way out is to dump the Euro and devalue, which the politico's in Europe are not going to allow.

The whole sorry Euro Ponzi scheme mess will collapse eventually, if you have any money in a Euro bank get it out! Portugal probably next to steal the funds of their bank depositors.

Feel very sorry for the average Cypriot, but when you have the Euro masters forcing a haircut on the Greek bondholders whilst not allowing them to use the Credit swap insurance they had in place to cover their losses, it was only a matter of time before Cyprus went to the wall.

If I were a Euro politico elite, I'd be wondering when my polonium sandwich was about to be forced down my throat.

stevieturbo
29th March 2013, 23:00
it's disgusting....almost the start of a new communist European state, where governments steal and control all your money even more than they do currently !

Cash could become the new black market currency !

I'm just glad I have sweet FA in the bank ! You'd be better off owing millions, then they cant take it off you.

davey21wagon
3rd May 2013, 07:51
it's disgusting....almost the start of a new communist European state, where governments steal and control all your money even more than they do currently !

Cash could become the new black market currency !

I'm just glad I have sweet FA in the bank ! You'd be better off owing millions, then they cant take it off you.

sadly your right