The Cyprus government has a 100,000 euro bank deposit guarantee per account...the same as we do here. It seems that it is been forced by the EU and ECB to break this guarantee promise...Is this a case of "testing the water" in a small country and could that lead to a levy on Irish bank accounts in a future budget. I am aware of all the arguments, such as the fact that this type of policy could cause a run on bank deposits but our government have already "raided" pension funds when they imposed a 0.6% levy on the gross amount of an individuals pension fund for a period of three years...In other words,if you had a pension fund worth 100k, the government took 600 euro from you in year one and so on...this amount was taken even if your fund lost money in that particular year..
Catastrophic is that the richest Cypriots have already moved their money out of Cyprus, and now this tax applies only to ordinary citizens who had the least of the loans raised by the rich at the expense of the state and robbed.
Steevyv: Catastrophic is that the richest Cypriots have already moved their money out of Cyprus, and now this tax applies only to ordinary citizens who had the least of the loans raised by the rich at the expense of the state and robbed.
If this levy goes ahead,there might be a lot of nervous depositors in other EU countries. I doubt if they would get away with this levy in some of the larger EU states.
Spanishsun: If this levy goes ahead,there might be a lot of nervous depositors in other EU countries. I doubt if they would get away with this levy in some of the larger EU states.
There's gonna be a few dead Cypriot Politicians in the next 6 months. Polonium Tea.
The ECB is giving €10 billion to Cyprus. But the ECB doens't have any assets so it just prints up the money, or digitally inputs it into a computer. How magical! We give these Statists the power to print our money... how stupid are we. Of course the money they are stealing form the Cypriots is real money. Money they worked hard for and saved. So the ECB is exchanging zero's and one's on a computer for their real property!!
The US Treasury Dept. / IMF called for a 40% money grab from all accounts in the EU soviet. It could happen yet. And if your thinking of taking out all your cash make sure it is in no bigger than €20 notes because they also talked about decomissioning all large notes as a 'once off'. They did that in Russia a few years back and caught a lot of people.
The funny thing is that the sheeple will continue to believe that the State protects our property and has our best interests at heart. Nothing could be further from the truth.
Spanishsun: The Cyprus government has a 100,000 euro bank deposit guarantee per account...the same as we do here. It seems that it is been forced by the EU and ECB to break this guarantee promise...Is this a case of "testing the water" in a small country and could that lead to a levy on Irish bank accounts in a future budget. I am aware of all the arguments, such as the fact that this type of policy could cause a run on bank deposits but our government have already "raided" pension funds when they imposed a 0.6% levy on the gross amount of an individuals pension fund for a period of three years...In other words,if you had a pension fund worth 100k, the government took 600 euro from you in year one and so on...this amount was taken even if your fund lost money in that particular year..
Plenty of gas of their coast ,give them 3 years and they will be booming again, so could we if we had a government who could stand up to the oil companies, ie Ray Burke selling of our oil rights for a couple of pints like yeltsin did in Russia except Russia took it back for themselves of the big mulinationals because of a man like Putin.
facetowardsfront: The ECB is giving €10 billion to Cyprus. But the ECB doens't have any assets so it just prints up the money, or digitally inputs it into a computer. How magical! We give these Statists the power to print our money... how stupid are we. Of course the money they are stealing form the Cypriots is real money. Money they worked hard for and saved. So the ECB is exchanging zero's and one's on a computer for their real property!!
The US Treasury Dept. / IMF called for a 40% money grab from all accounts in the EU soviet. It could happen yet. And if your thinking of taking out all your cash make sure it is in no bigger than €20 notes because they also talked about decomissioning all large notes as a 'once off'. They did that in Russia a few years back and caught a lot of people.
The funny thing is that the sheeple will continue to believe that the State protects our property and has our best interests at heart. Nothing could be further from the truth.
so if you had a ball of cash what would you do with it instead of leaving it in a bank account?
Phoenix: I'd use the Caymans myself..That way I could top up my tan at the same time as talking to my bank.
You can open a Isle of Man account without leaving the country, AFAIK. You just need to fill out forms. Now I could be wrong if rules have changed in the past few years and some banks will be different...
MADDOG69: You can open a Isle of Man account without leaving the country, AFAIK. You just need to fill out forms. Now I could be wrong if rules have changed in the past few years and some banks will be different...
I'm aware of that...(IMO) topping up a tan in the caymans while counting your sheckles has to be better than getting a cold in Douglas doing the same thing.......
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It seems that it is been forced by the EU and ECB to break this guarantee promise...Is this a case of "testing the water" in a small country and could that lead to a levy on Irish bank accounts in a future budget. I am aware of all the arguments, such as the fact that this type of policy could cause a run on bank deposits but our government have already "raided" pension funds when they imposed a 0.6% levy on the gross amount of an individuals pension fund for a period of three years...In other words,if you had a pension fund worth 100k, the government took 600 euro from you in year one and so on...this amount was taken even if your fund lost money in that particular year..