Sneaky barstewards - Cypriot banking crisis

[AlgarveBlu]

It's all about the contageon risk...It's no surprise that since Monday morning we have had a huge uptick in people enquiring about what this means to expats resident in Portugal...If Cyprus why not Portugal or Spain etc.

I know that Cyprus has been cited as a unique case but truly and honestly nobody believes a word that comes out of the EU now as they're making it up as they go along..

The Euro should be disbanded! It's always about what's good for Germany and before anyone says they have been stumping up for the bailouts they should ask how Germany managed to generate most of that soveriegn wealth since 2000 till 2008. They pushed for this currency union with Miterand so they can lie in it!

 

[ElanJo]

I don't see what the big deal is. Almost everyone here promotes the principle of legal plunder.

You made your bed

 

[denislawsbackheel]

I see Gideon has already done a U turn about armed forces compensation. They will only get it on their current accounts. If they have a savings account they won't.

 

[blueonblue]

Its comical that an organization that has not been able to get its accounts signed off for the last eleven years can dictate financial policy to countries, comical but not f*cking funny I should say as they have now resorted to outright theft to support the dead duck euro.

Hopefully this will be the final straw that wakes people up to just what the EU is behind all the flannel, that they have shut the banks so people can not get their own money out in Cyprus wont stop a run on banks in the P I G sector.

Its worth remembering that post office accounts and children's bonds are run through the bank of Ireland, and you may well trust your government to guarantee the amount if Ireland is effected by a run on the bank ( Would you leave cash in the bank if you were Irish ? ), but then governments of the past have always found ways to rat out on "Cast iron promises".

Dress this up how you want, its theft of peoples money by government at the direct instruction and with the full blessing of a bunch of c*nts who claim democracy while behaving like a totalitarian state.

 

[Challenger1978]

Its comical that an organization that has not been able to get its accounts signed off for the last eleven years can dictate financial policy to countries, comical but not f*cking funny I should say as they have now resorted to outright theft to support the dead duck euro.

Hopefully this will be the final straw that wakes people up to just what the EU is behind all the flannel, that they have shut the banks so people can not get their own money out in Cyprus wont stop a run on banks in the P I G sector.

Its worth remembering that post office accounts and children's bonds are run through the bank of Ireland, and you may well trust your government to guarantee the amount if Ireland is effected by a run on the bank ( Would you leave cash in the bank if you were Irish ? ), but then governments of the past have always found ways to rat out on "Cast iron promises".

Dress this up how you want, its theft of peoples money by government at the direct instruction and with the full blessing of a bunch of c*nts who claim democracy while behaving like a totalitarian state.

 

[Ancient Citizen]

Its comical that an organization that has not been able to get its accounts signed off for the last eleven years can dictate financial policy to countries, comical but not f*cking funny I should say as they have now resorted to outright theft to support the dead duck euro.

Hopefully this will be the final straw that wakes people up to just what the EU is behind all the flannel, that they have shut the banks so people can not get their own money out in Cyprus wont stop a run on banks in the P I G sector.

Its worth remembering that post office accounts and children's bonds are run through the bank of Ireland, and you may well trust your government to guarantee the amount if Ireland is effected by a run on the bank ( Would you leave cash in the bank if you were Irish ? ), but then governments of the past have always found ways to rat out on "Cast iron promises".

Dress this up how you want, its theft of peoples money by government at the direct instruction and with the full blessing of a bunch of c*nts who claim democracy while behaving like a totalitarian state.

You're not wrong. Good point about the Post Office too, if I had any fucking money I'd stuff it under the wardrobe. (Matresses are so last week).

 

[Gabriel]

Just had a phone conversation with the bloke who lived next door to us in Paphos, hes going to get hammered with this tax, and i feel for him.
Like me he has taken early retirement and moved out there 4 years ago, he sold his house in Preston and moved lock stock to Cyprus and put half his cash in Bank of Cyprus and other half in Alpha bank, hes at his wits end same as all the other ex pats 45 years working and saving like mad to fulfill his dream now hes being robbed blind.
Once all this is sorted and he knows where he stands hes leaving Cyprus and trying for Canada with his daughter who lives there
Thank god for we had a lucky escape and came home in October, to lose that amount of money would have pushed my wife over the edge

Thought Alpha Bank was Greek rather than Cypriot. Is that affected too?

 

[Gabriel]

Cypriot government backtracking slightly, they have just announced anybody with 20,000 euros or less will not be taxed, over 20,000 up to 100,000 its still 6.7pc, over that 9.7pc bit of relief then

In my experience, based on the missus' family, the older Greek Cypriots are very carfeul with their cash. They tend not to blow it on nice cars and luxury holidays. They are more concerned about passing their money down to the children. This often takes the form of buying land or property, or putting it into an account. Thus, the raid on accounts will hurt the ordinary Cypriots, not just the wealthy.

The missus' gran will lose about £10k. She's not wealthy. She has simply lived a simple life for 30-40 years, in order to save money for her children. It's quite sad really. She worked until she was 70 and the only treat she indulges in is getting her hair done once every few months. Thankfully, most of her money is in accounts under the names of her children, and some of it is in the UK.

Would agree with your observation regarding the older generation, which makes the behaviour of the young all the more incomprehensible. I know young people who built enormous houses and ran cars and bikes that their salaries could never cover.

 

[Crouchinho]

No wonder old people keep cash under the bed. I'd be seriously pissed off!

 

[scotty123]

Just had a phone conversation with the bloke who lived next door to us in Paphos, hes going to get hammered with this tax, and i feel for him.
Like me he has taken early retirement and moved out there 4 years ago, he sold his house in Preston and moved lock stock to Cyprus and put half his cash in Bank of Cyprus and other half in Alpha bank, hes at his wits end same as all the other ex pats 45 years working and saving like mad to fulfill his dream now hes being robbed blind.
Once all this is sorted and he knows where he stands hes leaving Cyprus and trying for Canada with his daughter who lives there
Thank god for we had a lucky escape and came home in October, to lose that amount of money would have pushed my wife over the edge

Thought Alpha Bank was Greek rather than Cypriot. Is that affected too?

Yes there are loads of Alpha banks in Cyprus and it comes under Cypriot banking laws, theres also a Co-op bank and thats the same