Sneaky barstewards - Cypriot banking crisis

[AlgarveBlu]

Re: Cyprus government steals from bank accounts

I thought governments offered all savers in the EU protection on the first Euro100k in a bank account. It now seems we now need to find a bank that offers us protection from the government - I sense a conundrum arriving!

 

[Plaything of the gods]

Re: Cyprus government steals from bank accounts

Its already being talked about in the UK. ...but it was under the guise of 'negative interest rates'

Go here...<a class="postlink" href="http://news.bbc.co.uk/1/hi/programmes/moneybox/7809530.stm" onclick="window.open(this.href);return false;">http://news.bbc.co.uk/1/hi/programmes/m ... 809530.stm</a>

my money is no longer at the building society its now in a safe in the house. If you've got any sense you'd do the same before 'Call me Dave' and his pals cream 10% off the top

Negative interest rates for savers is not possible. It would just cause a run on the banks and the collapse of the whole banking edifice. What I'd heard muted recently, in the past month or so, for negative interest rates would affect just bank and building society deposits with the Bank of England.

http://www.guardian.co.uk/money/2013/feb/27/negative-interest-rates-affect-consumers

 

[Ragnarok]

Re: Cyprus government steals from bank accounts

The Cyprus government has passed a law with immediate effect, anybody with a bank account in Cyprus, Cypriot or not, will have to pay a tax on their accounts to bail out the country

Savings of 100,000 euros or more will be taxed at 9.9pc. savings under that will be taxed at 6.7pc and there is nothing anybody can do about it

Surely that is illegal, your own money is yours and no government should be able to get their grubby hands on it, thousands of British servicemen based in Cyprus are being hit as well, thank god i came back last October and brought our money with us

Burn down the government offices?

I hear the measure has caused great concern in Greece, Italy, Spain and Portugal as people there worry that it might happen to them as well. There is only ever one way to stop governments doing things that the population don't like and that is to kick them up the arse and kick them out. I predict a riot.

Its already being talked about in the UK. ...but it was under the guise of 'negative interest rates'

Go here...<a class="postlink" href="http://news.bbc.co.uk/1/hi/programmes/moneybox/7809530.stm" onclick="window.open(this.href);return false;">http://news.bbc.co.uk/1/hi/programmes/m ... 809530.stm</a>

my money is no longer at the building society its now in a safe in the house. If you've got any sense you'd do the same before 'Call me Dave' and his pals cream 10% off the top

In a safe in your house you say.... hmmm......

 

[The Silver Surfer]

Re: Cyprus government steals from bank accounts

seriously worrying - and i haven't got any savings!
If this happened in this country i'd expect meltdown, working classes, middle classes joining the underbelly of society ripping up othe streets.

 

[urmston]

Re: Cyprus government steals from bank accounts

If an elected government chooses to impose a levy on savings then that is no different to it levying other taxes.

It is done by the peoples representatives, the people they freely chose to run the country and who they can change for new people at the next election.

 

[scotty123]

Re: Cyprus government steals from bank accounts

Osborne, we will compensate any British service personell who have savings in Cyprus

 

[Plaything of the gods]

Re: Cyprus government steals from bank accounts

This article explains a lot of what lies behind it all.

http://www.telegraph.co.uk/finance/...priot-government-has-betrayed-its-people.html

The Cypriot government should not be grabbing money (at 6.75%) from those with small amounts of savings when there is £mmms of dodgy money deposited in the country's banks.

 

[paphos-mcfc]

Re: Cyprus government steals from bank accounts

This article explains a lot of what lies behind it all.

http://www.telegraph.co.uk/finance/...priot-government-has-betrayed-its-people.html

The Cypriot government should not be grabbing money (at 6.75%) from those with small amounts of savings when there is £mmms of dodgy money deposited in the country's banks.

Exactly mate. I, like many others have lost money unfairly. There's speculation now that we'll get the money back in maybe 5 years or more. Not being funny, but how much will a thousand euros be worth in 5 years time compared to today? Greedy fucking government getting dodgy money coming in to Cyprus banks by keeping taxes rates 'attractive' to outside and overseas investors.

Fuck them all.

 

[scotty123]

Re: Cyprus government steals from bank accounts

This article explains a lot of what lies behind it all.

http://www.telegraph.co.uk/finance/...priot-government-has-betrayed-its-people.html

The Cypriot government should not be grabbing money (at 6.75%) from those with small amounts of savings when there is £mmms of dodgy money deposited in the country's banks.

Exactly mate. I, like many others have lost money unfairly. There's speculation now that we'll get the money back in maybe 5 years or more. Not being funny, but how much will a thousand euros be worth in 5 years time compared to today? Greedy fucking government getting dodgy money coming in to Cyprus banks by keeping taxes rates 'attractive' to outside and overseas investors.

Fuck them all.

Surprised you lot over there havnt set up road blocks on Tombs of the Kings Road, they are not known for their patience Cypriots if this goes ahead i can see riots and if i had still been living there i would have been joining in !!

 

[Gabriel]

Re: Cyprus government steals from bank accounts

If there were going to be riots, they would have happened last night. If the parties agree to the levy, then the people will have little choice but to accept it, especially since the government has just been elected.

It seems a bitter pill for ordinary Cypriots to swallow, but rejection will see even harsher penalties and lead to massive unemployment and restructuring of society. One might contend that the latter would ultimately be more beneficial for the country, yet it is what the powerful Unions fear most, and I would imagine this measure will be passed, albeit with much wailing and gnashing of teeth