Cyprus steals British Servicemens money (141)
The British government ensures all british citizens will get paid in full
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This tax was mainly targeted at Russians who own wast amounts of money in Cyprus banks.
Laundry comes to mind..
Laundry comes to mind..
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Adalstef: The British government ensures all british citizens will get paid in full
bloody hell you got a fact right about the British for once in your life!! you must have just learnt to read properly now lol
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Tomcats2: bloody hell you got a fact right about the British for once in your life!! you must have just learnt to read properly now lol
What are you ranting about??
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tomcatwarne: Well, all people does include British Service men, read the article.
I did read it and its in the paper here today in business page terrible time on Cyprus due to Greece,i think they need some help from Turkey also
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As about turkey and their sympathisers , they can also F$$#$@$^% OFF
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Crisis and recession effection on empty mind 
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It was reported today that British Servicemen were exempt, but I understand that British civilians are still going to have to pay.
Though I don't see why the ordinary man Cypriot or British should bail these banks out.
Though I don't see why the ordinary man Cypriot or British should bail these banks out.
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tomcatwarne: It was reported today that British Servicemen were exempt, but I understand that British civilians are still going to have to pay.
Though I don't see why the ordinary man Cypriot or British should bail these banks out.
Because they need bail out package from IMFThough I don't see why the ordinary man Cypriot or British should bail these banks out.
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tomcatwarne: It was reported today that British Servicemen were exempt, but I understand that British civilians are still going to have to pay.
Though I don't see why the ordinary man Cypriot or British should bail these banks out.
Though I don't see why the ordinary man Cypriot or British should bail these banks out.
Thats funny, all europe had the opinion that Icelanders should bail out banks operating in foreign countries.
Now theres a totally different sound
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Cyprus's parliament has postponed until Tuesday a session to vote on a EU bailout deal that slaps a levy on all Cypriot bank savings, as negotiators scrambled to soften the blow for small deposit holders.
Amid rising anger and jitters on global markets, MPs had been due to vote on the measure Monday but the speaker Yiannakis Omirou said the session would now take place at 6.00 pm (1600 GMT) on Tuesday.
He said the postponement was agreed by parliamentary party leaders after being briefed by President Nicos Anastasiades.
The bailout deal, agreed at the weekend, sparked market turmoil on Monday and stoked fresh fears of debt crisis contagion.
Cyprus Finance Minister Michalis Sarris and Central Bank governor Panicos Demetriades separately told lawmakers they were seeking a fresh formula that would exempt smalltime bank depositors from the unprecedented levy.
They added they were looking to see a tax-free threshold for savings up to 100,000 euros ($129,000), but that under this plan deposits of more than 100,000 euros would be forced to take a bigger hit.
A EU source in Brussels said Nicosia and international creditors were busy discussing changes to the levy.
"We really want to reduce the impact" on smaller savers but the "idea is still to achieve the same objective, (of raising) 5.8 billion euros," the source said.
In the bailout accord agreed in the early hours of Saturday with the EU, the International Monetary Fund and the European Central Bank, Cyprus accepted a levy of 6.75 percent on accounts up to 100,000 euros and 9.9 percent thereafter.
On the financial markets, which have risen strongly in recent months on hopes the worst of the debt crisis was over, the banks were hit badly Monday as investors looked for safety first.
"If European policymakers were looking for a way to undermine the public trust that underpins the foundation of any banking system they could not have done a better job," said CMC Markets analyst Michael Hewson.
"The feeling is that the euro crisis could be back and that you could see full-on contagion, that's why you're seeing the market reaction today," Shane Oliver, chief economist at AMP Capital in Sydney, told Dow Jones Newswires.
News (NasdaqGS: NWS - news) of the controversial tax also drew a sharp response from Russian President Vladimir Putin, who, according to a Kremlin (Hamburg: KMLK.HM - news) spokesman, called it "unfair, unprofessional and dangerous."
Russian Prime Minister Dmitry Medvedev too slammed the deal.
"We should say this directly: this simply looks like the confiscation of other people's money," Russian news agencies quoted Medvedev as saying. "I do not know who the author of this idea is, but this is what it looks like."
Several analysts said the measure was meant to make sure that Brussels did not spend billions propping up the at-times ill-gotten gains of rich Russians, who are widely reported to have exploited Cyprus's reputation as a tax haven.
Cyprus has repeatedly denied the allegations of being soft on "dirty money" and offered to open its accounts to international inspection.
Estimates vary but the Moody's rating firm estimates that up to $19 billion in private Russian cash is held in Cyprus. The figure accounts for between a third and half of all Cypriot deposits.
Anastasiades, in an address to the shell-shocked nation on Sunday night, said he had chosen "the least painful option" and that rejecting the EU demands would have seen Cyprus exit the eurozone and face bankruptcy.
Terming it the worst crisis to hit Cyprus since the 1974 Turkish invasion, he gave an assurance that those taking a hit now would be compensated when huge gas offshore gas deposits are eventually exploited, in about 2018.
Breaking news of the levy shocked Cypriots at the start of a three-day holiday weekend, many rushing to cash points and depleting them within hours.
Amid rising anger and jitters on global markets, MPs had been due to vote on the measure Monday but the speaker Yiannakis Omirou said the session would now take place at 6.00 pm (1600 GMT) on Tuesday.
He said the postponement was agreed by parliamentary party leaders after being briefed by President Nicos Anastasiades.
The bailout deal, agreed at the weekend, sparked market turmoil on Monday and stoked fresh fears of debt crisis contagion.
Cyprus Finance Minister Michalis Sarris and Central Bank governor Panicos Demetriades separately told lawmakers they were seeking a fresh formula that would exempt smalltime bank depositors from the unprecedented levy.
They added they were looking to see a tax-free threshold for savings up to 100,000 euros ($129,000), but that under this plan deposits of more than 100,000 euros would be forced to take a bigger hit.
A EU source in Brussels said Nicosia and international creditors were busy discussing changes to the levy.
"We really want to reduce the impact" on smaller savers but the "idea is still to achieve the same objective, (of raising) 5.8 billion euros," the source said.
In the bailout accord agreed in the early hours of Saturday with the EU, the International Monetary Fund and the European Central Bank, Cyprus accepted a levy of 6.75 percent on accounts up to 100,000 euros and 9.9 percent thereafter.
On the financial markets, which have risen strongly in recent months on hopes the worst of the debt crisis was over, the banks were hit badly Monday as investors looked for safety first.
"If European policymakers were looking for a way to undermine the public trust that underpins the foundation of any banking system they could not have done a better job," said CMC Markets analyst Michael Hewson.
"The feeling is that the euro crisis could be back and that you could see full-on contagion, that's why you're seeing the market reaction today," Shane Oliver, chief economist at AMP Capital in Sydney, told Dow Jones Newswires.
News (NasdaqGS: NWS - news) of the controversial tax also drew a sharp response from Russian President Vladimir Putin, who, according to a Kremlin (Hamburg: KMLK.HM - news) spokesman, called it "unfair, unprofessional and dangerous."
Russian Prime Minister Dmitry Medvedev too slammed the deal.
"We should say this directly: this simply looks like the confiscation of other people's money," Russian news agencies quoted Medvedev as saying. "I do not know who the author of this idea is, but this is what it looks like."
Several analysts said the measure was meant to make sure that Brussels did not spend billions propping up the at-times ill-gotten gains of rich Russians, who are widely reported to have exploited Cyprus's reputation as a tax haven.
Cyprus has repeatedly denied the allegations of being soft on "dirty money" and offered to open its accounts to international inspection.
Estimates vary but the Moody's rating firm estimates that up to $19 billion in private Russian cash is held in Cyprus. The figure accounts for between a third and half of all Cypriot deposits.
Anastasiades, in an address to the shell-shocked nation on Sunday night, said he had chosen "the least painful option" and that rejecting the EU demands would have seen Cyprus exit the eurozone and face bankruptcy.
Terming it the worst crisis to hit Cyprus since the 1974 Turkish invasion, he gave an assurance that those taking a hit now would be compensated when huge gas offshore gas deposits are eventually exploited, in about 2018.
Breaking news of the levy shocked Cypriots at the start of a three-day holiday weekend, many rushing to cash points and depleting them within hours.
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Theft by Law!
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Cypriots already had the northern part of their Island taken in 1974 by an invading Turkish army. Now the EU want to invade their bank accounts, this could all end in tears.
As for a one off Levy. Once this year, once next year and once every year after???
And who next? Italy? Spain? Portugal? Ireland?
This could very well lead to a run on the banks throughout Europe, and all for what? To protect the Bond Holders at any cost? Even if that cost is democracy itself. European politicians have talked themselves into a corner, and now can't backtrack without being seen as to be absolutely clueless and completely useless.
As for a one off Levy. Once this year, once next year and once every year after???
And who next? Italy? Spain? Portugal? Ireland?
This could very well lead to a run on the banks throughout Europe, and all for what? To protect the Bond Holders at any cost? Even if that cost is democracy itself. European politicians have talked themselves into a corner, and now can't backtrack without being seen as to be absolutely clueless and completely useless.
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Conrad73: Theft by Law!
Well, I'm sure that They would take other people's money only because they need too.
What's so different between this type of theft and automatic payroll tax deductions when you have that much government spending because of dependency on it like you have there?
And Obama, along with all his flatliner liberal koolaid drunk followers, wants to clone the failed European economics policy experiment here(obamacare etc.), when it doesn't work there!
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Conrad73: Theft by Law!
The thing that worries me is that this could well be carried out throughout Europe, some of us have savings put aside for when we retire, we have already paid tax twice on it, a third time is grossly unfair.
I will seriously think about transferring all my savings to a Chinese bank, the affect of this action could create an even worsening drop on the Euro, Dollar and Sterling, the RMB is gaining strength!!
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Cyprus banks will be kept closed till Thursday
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rizlared: The thing that worries me is that this could well be carried out throughout Europe, some of us have savings put aside for when we retire, we have already paid tax twice on it, a third time is grossly unfair.
I will seriously think about transferring all my savings to a Chinese bank, the affect of this action could create an even worsening drop on the Euro, Dollar and Sterling, the RMB is gaining strength!!
I will seriously think about transferring all my savings to a Chinese bank, the affect of this action could create an even worsening drop on the Euro, Dollar and Sterling, the RMB is gaining strength!!
For sure this could well be carried out throughout Europe, at least south Europe. Spain is helping the banks with the money of taxes.
Countries which exhausted the money of taxes, like Cyprus, have create a new tax and they take out the money directly from the people´s accounts.
And the cypriots, of course, are trying to elude pay taxes like everybody does there (Banks included) taking out the money from their accounts first. And a high percentage of the population did it already.
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rizlared: The thing that worries me is that this could well be carried out throughout Europe, some of us have savings put aside for when we retire, we have already paid tax twice on it, a third time is grossly unfair.
I will seriously think about transferring all my savings to a Chinese bank, the affect of this action could create an even worsening drop on the Euro, Dollar and Sterling, the RMB is gaining strength!!
anything Politicians do usually has the opposite effect than what those dear Politicians want to make us believe!I will seriously think about transferring all my savings to a Chinese bank, the affect of this action could create an even worsening drop on the Euro, Dollar and Sterling, the RMB is gaining strength!!
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Conrad73: anything Politicians do usually has the opposite effect than what those dear Politicians want to make us believe!
Absolutely correct, when people like the idea of going green, the first thing governments thought about was, how many new taxes they could invent.
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They'll take the money, and the British Taxpayer, yet again, will have to foot the bill for the refund of British National's deposits. Iceland #2.