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Cyprus surprise - Cypriot depositors to take a 'haircut'

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Comments

  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    This is all very inconvenient. I was about to book a holiday in Cyprus for June and now I don't know whether to go ahead or not.
  • chewmylegoff
    chewmylegoff Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    ruggedtoast wrote: »
    This is all very inconvenient. I was about to book a holiday in Cyprus for June and now I don't know whether to go ahead or not.

    Perhaps visit Northern Cyprus, I don't think they're participating.
  • Wookster
    Wookster Posts: 3,795 Forumite
    Could someone remind me what happened to savers in Russia in the 90s just after the Soviet Union collapsed?

    I think they got utterly screwed.

    Its very rich Putin talking about an unfair levy here!
  • cepheus
    cepheus Posts: 20,053 Forumite
    Wookster wrote: »
    Could someone remind me what happened to savers in Russia in the 90s just after the Soviet Union collapsed?

    I think they got utterly screwed.

    Its very rich Putin talking about an unfair levy here!

    The close financial relationship between the two countries is said to date back to the early 1990s and the breakup of the Soviet Union when newly-rich oligarchs were looking for places to put their cash.

    "It is safe to assume that these are richer Russians that have parked their money there, not with the purpose of getting higher returns in Cyprus, but to probably avoid close government attention," said Ivan Tchakarov, chief economist at Renaissance Capital.

    Edward Savulyak director of the Moscow office at Tax Consulting UK told BBC Russian: "There were many Russians in Cyprus because they weren't asked many questions about the origins of the money.

    "Other countries are more careful," he said.

    Continue reading the main story
  • dryhat
    dryhat Posts: 1,305 Forumite
    It's really very convenient having the russians to blame isn't it?
  • worldtraveller
    worldtraveller Posts: 14,013 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Surely this will end up being yet another case of the EU basically tweaking things slightly and then saying "You will vote again and YOU WILL VOTE YES THIS TIME!"
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • cepheus
    cepheus Posts: 20,053 Forumite
    Perhaps the Russians can bail out their citizens/businesses in Cyprus and Europe all the rest, so they aren't seen to be aiding tax dodgers.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    Wookster wrote: »
    Could someone remind me what happened to savers in Russia in the 90s just after the Soviet Union collapsed?

    I think they got utterly screwed.

    Its very rich Putin talking about an unfair levy here!

    Did normal people save in Russia, if so what for exactly, a loaf of bread, a tin of sardines, something to put in the Lada.?;)
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    cepheus wrote: »
    Perhaps the Russians can bail out their citizens/businesses in Cyprus and Europe all the rest, so they aren't seen to be aiding tax dodgers.

    Give it afew years and they may be bailing us all out. They have massive natural resources I believe.

    No need for all those nuclear warheads. No wonder the USA was afraid of the Russians.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • antrobus
    antrobus Posts: 17,386 Forumite
    Cyprus President Nicos Anastasiades told Swedish television that there is an alternative plan that the Nicosia government will follow should the bill be voted down. “We have a Plan B,” he said.

    http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_19/03/2013_488615

    Good to know.
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