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Cyprus surprise - Cypriot depositors to take a 'haircut'

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Comments

  • socrates
    socrates Posts: 2,889 Forumite
    CLAPTON wrote: »
    it would seem to me that means a financial police force to ensure that money isn't syphoned out of the country.

    And that too....
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    CLAPTON wrote: »
    the alternative from the government deciding who to hit is, of course bankruptcy of both the banks.
    In reality that would mean both the rich and poor are wiped out as nobody believes a fire sale of their 'assets' would raise much.

    I thought deposits under 100,000 euros were protected under EU law?
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • diable
    diable Posts: 5,258 Forumite
    StevieJ wrote: »
    I thought deposits under 100,000 euros were protected under EU law?

    Laws can be changed, this is the EU remember a "NO" for is temporary and a "YES" forever........
  • socrates
    socrates Posts: 2,889 Forumite
    edited 27 March 2013 at 7:15PM
    One rumour I have heard from my family over there is that when the banks open tomorrow 12.00pm UK time - the Unions have asked all their members to strike.....
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    StevieJ wrote: »
    I thought deposits under 100,000 euros were protected under EU law?


    the other details are decided by the Cypriot government / Troika as they are providing the money
  • diable
    diable Posts: 5,258 Forumite
    http://synonblog.dailymail.co.uk/2013/03/the-new-soviet-union-cyprus-shows-how-the-eu-destroys-democracy.html
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    socrates wrote: »
    the Unions have asked all their members to strike.....

    To what benefit to the Cypriot economy?
  • socrates
    socrates Posts: 2,889 Forumite
    Thrugelmir wrote: »
    To what benefit to the Cypriot economy?

    I think its to show solidarity to the bank workers who are losing their jobs-

    I also hear that there is a consortium - if that is the correct word of people getting together to sue
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    socrates wrote: »
    I think its to show solidarity to the bank workers who are losing their jobs-

    Won't bring the jobs back. Banking across Europe is in decline. Nothing is going to change that.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Banks will officially open tomorrow.

    However, they still can't implement the capital controls.

    Isn't that just inviting a car crash?
This discussion has been closed.
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