>>>Ni Popu kazat' {g}
>>>I owe peanuts comparing to most of people nowdays in Cyprus.
>>>But I was pi$$ed of that they actually increased MARGIN which is supposet to be fixed (so I was told) while central bank rate
>>>(which is suppose to be that variable part) actually dropped 0.5 %
>>>
>>>But it is all scrapped now. Our FED excersized muscles and stopped most of rate increases.
>>
>>Does Cyprus have a FED-like private/foreign bank consortium, or a real national bank?
>
>Old fashioned/conservative National Bank. Thanks to that fact Cypus is up to now among least affected countries in Europe.

Only a ganghtering of private/foreign banks, given a right to charge interest on the money they just invented (Lolek & Bolek style) is a proper FED institution, which can even pretend to be a part of the government, while actually having no responsibility. Anything else is just too much government, prone to policy shifting depending on elections, lobbying etc etc. I'm sure we have more knowledgeable people here who can explain why this is so much to everyone's advantage than anything else.

>They got slammed by everybody so they finally backed down.

Do that often.