The EU & Cypriot Bank Theft

[Franklin_Delano_Roosevelt]

http://www.bbc.co.uk/news/uk-21820237

So, if I am an ordinary Cypriot and I have less than 100,000 Eur in my bank I wake up on Tuesday morning to find that 6.75% of it has been taken away to pay for the EU bail out. If I have more than 100,000 Eur I find 9.9% of it has been stolen

How is this any different from walking into the bank wearing a balaclava, waving around a shot gun and demanding that the cashier empty the safe?

The European Union has offically gone mad. Let the European Bank runs commence.....

 

[tek-monkey]

I did think it a very odd idea, luckily for me I'm always overdrawn so should see some profit if they tried it over here!

 

[tek-monkey]

Apparently they will now be compensated in the form of shares, aren't they lucky:

http://uk.news.yahoo.com/cyprus-say...ve-bankruptcy-191536222--finance.html#bkQ1F00

 

[John Marwood]

The Danes have a saying for this kind of thing - roughly translated it means " Yamknackeredbab Themswoss tocum"

or... "the value of paper money always returns to its intrinsic worth – zero"

 

[Gramaisc]

The Danes have a saying for this kind of thing - roughly translated it means " Yamknackeredbab Themswoss tocum"

or... "the value of paper money always returns to its intrinsic worth – zero"

I promise to pay the bearer anything I feel like, if anything at all, once I've made sure that I'm alright.

 

[John Marwood]

I promise to pay the bearer anything I feel like, if anything at all, once I've made sure that I'm alright.

Buy fields - preferable flat ones away from rivers but not too far from streams

 

[Gramaisc]

Buy fields - preferable flat ones away from rivers but not too far from streams

Agricultural land prices hit an all-time high - http://www.guardian.co.uk/business/2013/feb/15/rural-land-prices-new-high ..

 

[John Marwood]

http://www.southandstubbs.co.uk/property.html

land off Watling Street, Staffordshire - Thersgoldinthemtheremeadows

maybe

 

[Withnail]

Buy fields - preferable flat ones away from rivers but not too far from streams

Did you take my advice then? I seem to remember you rather poo-pooed it at the time.

Heard on the radio earlier that a rather large amount of the money deposited in Cyprus belongs to probably quite dodgy Russkies.

 

[Gramaisc]

Heard on the radio earlier that a rather large amount of the money deposited in Cyprus belongs to probably quite dodgy Russkies.

A lot of money deposited in the banks of a lot of countries, not least this country and it's various off-shore dependencies, 'belongs' to dodgy people..

 

[John Marwood]

IT

Is the always about the ones you will never hear about

 

[bpelectric]

I seem to remember waking one morning to fine my pension pot had been robbed Thanks Mr Brown and Blair

 

[proactive]

I think stringing a couple of EU leaders up from lampposts in the manner of Mussolini, pour encourager les autres, might be a start in getting politicians to act in the interests of the people. Anyone got a rope?

 

[andy w]

Did you take my advice then? I seem to remember you rather poo-pooed it at the time.

Heard on the radio earlier that a rather large amount of the money deposited in Cyprus belongs to probably quite dodgy Russkies.

But why make all depositers suffer?
The ECB has driven a coach and horses through their deposit insurance scheme that protected the first 100,000 euros in any one banking group. By calling it a tax they believe they don't have to honour their guarntee that they put in place to restore confidence into the European banking system. How can people trust the eurocrats and politicans when they say this is one off. If they get away with this what's stopping them doing it again to another country(s)

 

[Gramaisc]

If they get away with this what's stopping them doing it again to another country(s)

Nothing - that's why they've waited for a little one that nobody (who matters) cares about, to try it out on.

 

[John Marwood]

The Coach and Horses?

Sticky carpet tax

 

[John Marwood]

Some property bargains expected in Macclesfield if your savings feel threatened

 

[Withnail]

But why make all depositers suffer?

Just saying - i have no opinion on this whatsoever. Seems to me to be something of a quarrel in a far away country between people of whom we know nothing.

What's the worst that could happen?

 

[Gramaisc]

Just saying - i have no opinion on this whatsoever. Seems to me to be something of a quarrel in a far away country between people of whom we know nothing.

What's the worst that could happen?

When I lived there, the thought of Russians flooding the place with US dollars would have seemed more than a little unlikely..

 

[John Marwood]

Buy barley sugar and nougart

Sell folding cotton

( on a serious note - the 'financial crisis' is likely to get worse, not better. Writes a postal order stamp collector )