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Cyprus surprise - Cypriot depositors to take a 'haircut'
Comments
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ScottWhiliams wrote: »bank runs
Stop with the trolling.
There are no bank runs outside of cyprus. And even that one will not be possible until Tuesday, by which time the tax has already been taken.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
ScottWhiliams wrote: »Where is the safest place to have your investments where the government can not just take 10% out when they like?
Mars.
( All this reminds me of a conversation I had on this board a few years ago with a gold bug who thought gold was the natural currency because governments couldn't inflate it away, and I pointed out that when SHTF the government would just steal it. The gold bug thought I was crazy).“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
Word is, they may not do this now.
The talks have been extended until tommorow. There is a real fear from the political side that the contagion of people removing their money may spread. Apparently some EU areas are seeing an increased number of maximum cash withdrawls from ATMs.
Apparently, Cyprus may instead, decide to leave the EU when they vote on the deal tommorow.
There appears to be increasing anger that a "line has been drawn in the sand to create a north-south divide in the EU block". There is also anger that the politicians on the south of this line feel they have fallen victims over the German elections.
Anger, even among politicians is now starting to take over as its seen as a "clear victory for the German Governement and German Taxpayers".
Nicos Anastasiades is threatening that anything other than acceptance of this levy will end in default, however others, even from other areas of the EU state this won't happen...not in the sense Nicos portrays anyway, as Germany won't want them to leave either, so it could end up in a game of call my bluff.0 -
Oh and it's also been reported, though again, no idea if true as don't have it written down, that the large majority of bond holders in Cyprus are the German and French.
Hence bondholders are untouched.
It's starting to show that it's not only shameful, but corrupt in it's very nature.0 -
Graham_Devon wrote: »Word is, they may not do this now..
And do you have a link to this "word"...“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »And do you have a link to this "word"...
http://blogs.telegraph.co.uk/finance/matspersson/100023412/tomorrow-cyprus-could-vote-to-leave-the-euro-this-is-political-dynamite/
Some of it's there.
The rest was on the radio a bit earlier, coming in from social media.0 -
Interesting video story here too.
Business owner who holds deposits is going to have money taken from them. Therefore, the full deposit won't be given back.
It effects so many things. Not just savings, but her business current account too.
They have stopped all online transactions in the meantime.
Some banks have halted cash withdrawals leaving people with no cash over the bank holiday weekend. Many others have run out of cash.0 -
ScottWhiliams wrote: »Where is the safest place to have your investments where the government can not just take 10% out when they like?
Switzerland has been the choice of many for a long time, they have a reputation of keeping their clients confidential.
Another option is to hold government bonds in a country that can be trusted to repay, like the US.
Failing all that, gold bullion stored in a safe place, with no paper trail back to you so the government dont know you have it.Faith, hope, charity, these three; but the greatest of these is charity.0 -
Switzerland has been the choice of many for a long time, they have a reputation of keeping their clients confidential.
Not since they pegged their currency to the euro - which was one of the openeing shots in the current "currency war"
Anyway, back to the cyprus thing...
When Hamish (representative of your average clueless punter) gets hot under the collar about this then you know it's serious.
It's only when theft this blatant takes place that most people take notice and only then do they start to think about the more covert ways in which governments steal money.
There is hope for us yet.0 -
Talks are taking place at the moment in order to try and reduce the percentage taken from those with under €100,000 to 3% and those with over €100,000 to 12%.
The president is concerned over the anger shown.0
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