BS: Cyprus Govt - Theft of Savings

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: GUEST,CrazyEddie
Date: 18 Mar 13 - 08:56 AM

"Some rob you with a six-gun, some with a fountain-pen"

Does this count as a music thread now?

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: GUEST,Backwoodsman
Date: 18 Mar 13 - 08:55 AM

Don, it's a condition of a rescue package, and apparently proposed by the fat-arsed German hausfrau and her acolytes because they're afraid of repercussions from German voters who have a perception that Cypriot banks have been laundering Russian money.

Richard, I'm not concerned with rich people outside Cyorus who have tried to take advantage of banks in Cyprus. My concern is for the ordinary people of Cyprus, and British nationals who live there.

However you look at it, it's a shitty way to treat people who weren't responsible for the mess the wanker-bankers have got themselves into. Even a Tory surely must concede that?

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: GUEST,Lizzie Cornish
Date: 18 Mar 13 - 08:52 AM

...or, Crooked Politician....

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: GUEST,Lizzie Cornish
Date: 18 Mar 13 - 08:51 AM

So, everyone pulls their savings OUT of the Banks...

And then.........................

CRASH!!

Stupid is as Stupid does.....


Not long to go now to The Implosion....


Oh..and go back to The Old Ways, under the mattress...for your average Burglar is a lot less likely to rob you than your average Banker....

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: Keith A of Hertford
Date: 18 Mar 13 - 08:51 AM

I think the concern expressed was for the ordinary Cypriot account holders.

The theft of their cash without warning was a condition imposed on them by EU in return for a bailout.

Other countries who may need future help, say Ireland, should be afraid.

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: beardedbruce
Date: 18 Mar 13 - 08:48 AM

How is this significantly different from the death tax, that takes a portion of an estate that has already been taxed ( when earned)? Or sales tax, where the money is taxed when earned, and again when spent?

Once you give the government the right to take your money whenever it decides it wants to, how do you then restrict it from taking your money?

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: Richard Bridge
Date: 18 Mar 13 - 08:43 AM

If you don't want to be subject to foreign bank regulation, don't use foreign banks. Most users of foreign banks do it because of interest or tax advantages - very few place savings abroad (as distinct from current accounts) for local convenience.

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: Don(Wyziwyg)T
Date: 18 Mar 13 - 07:28 AM

I thought this was an action of the Cyprus government, not the EU.

It seems that Cyprus banks are on the point of complete collapse, and the government on the verge of bankruptcy.

It may be that losing part of your savings to protect the rest is a better option than watching the banks go bust and losing the whole bloody lot.

It's easy to criticise and blame from a distance, but without knowing how bad things are, it may also be wrong.

Don T.

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: GUEST,oap
Date: 18 Mar 13 - 07:28 AM

It is outrageous
In the UK our GB£ savings are continually being ripped off by inflation well above ridiculously low interest rates
and that's outrageous too

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: Steve Shaw
Date: 18 Mar 13 - 07:04 AM

I agree. It's outrageous. The EU has given eurosceptics a massive stick with which it will now be beaten, and rightly so.

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: Nigel Parsons
Date: 18 Mar 13 - 06:40 AM

Take a percentage of everyones savings?

Seems almost the same as devaluing a currency, but without reducing peoples debts at the same time!

Subject: RE: BS: Cyprus Govt - Theft of Savings
From: GUEST,Niggardly Bastard
Date: 18 Mar 13 - 05:56 AM

Me and you and a dog named Boo.

Subject: BS: Cyprus Govt - Theft of Savings
From: GUEST,Backwoodsman Sans Cookie
Date: 18 Mar 13 - 05:32 AM

I'm astonished that the Mudcat Über-politicos haven't commented on this:-

Cyprus Gov't Plan To Steal From Citizens' Savings Accounts

Outrageous.

According to BBC news this morning, people living in Cyprus are finding their savings accounts frozen and transactions impossible to make - clearly to prevent them withdrawing their money ahead of the raid on their accounts.

If this goes ahead, who's next?