Cypriot Banks

Does not matter removing your money it's retrospective......Spain next ?? If I had money there I'd be moving it somewhere else
 
Well I worked all my life from the age of 15 and paid my taxes etc. so I could never afford to save anything.
 
Its a very dangerous move they have made it could start a panic withdrawal of money in all debted EU countries which would be a start of a collapse we are protected here as we have goverment protection to the first 80k of savings but what was really nasty of what happened is how they did it because they are not allowed to directly raid bank accounts so they created a one of tax levy of up to 10% and peoples accounts and this way it was a tax and not a direct raid .... now they have shown their cards this could do alot of damage as ripples are already happening ..... as for us your money is safer in the bank as its not insured at home but it is in the bank.
 
darkwood said:
Its a very dangerous move they have made it could start a panic withdrawal of money in all debted EU countries which would be a start of a collapse we are protected here as we have goverment protection to the first 80k of savings but what was really nasty of what happened is how they did it because they are not allowed to directly raid bank accounts so they created a one of tax levy of up to 10% and peoples accounts and this way it was a tax and not a direct raid .... now they have shown their cards this could do alot of damage as ripples are already happening ..... as for us your money is safer in the bank as its not insured at home but it is in the bank.
Click to expand...

But do we have government protection against the government taking money out of our accounts? :confused5:

Sounds like theft to me. What if you've just taken out a big loan for something and the money is in your account!
 
I've got an about 8 year debt with a certain bank for several 1000s.
They can go and p!ss up a fooking rope! The way they treated me at the time. :-------::-------::-------::-------::-------::-------::-------::-------::-------::-------:



Apparently I'm only allowed to post 10 of the above image at one time! :-)
 
Tuttle said:
But do we have government protection against the government taking money out of our accounts? :confused5:

Sounds like theft to me. What if you've just taken out a big loan for something and the money is in your account!
Click to expand...



Well a certain one eyed Scots git raided all the private pension schemes after his mate had told everyone to get a pension and save for later life
 
Archy Styrigg said:
I've got an about 8 year debt with a certain bank for several 1000s.
They can go and p!ss up a fooking rope! The way they treated me at the time. :-------::-------::-------::-------::-------::-------::-------::-------::-------:



Apparently I'm only allowed to post 10 of the above image at one time! :-)
Click to expand...

Funny you should say that ............... :yes:
 
Think its to late already, did I just hear on the news that the banks in Cyprus weren't going to open for the next few days, hence stopping people withdrawing there cash
 
We are not in the Euro and therefore can't fall foul of EU meddling ...our banking system is now ring-fenced for our protection and even if the bank went bust then upto 80k you will be covered ... over that you share you money between different banks to keep the cover and where you are in the millions then you have an accountant to do what necessary to protect your dosh... it would be beyond stupid to take you money out of the bank in this country and keep it at home... the best home insurance wont see more than 1k cash cover but in the bank its protected the goverment has protected your money and they would commit political suicide if they changed the law to get at your money direct.

It isnt going to happen here we are not under the same EU financial rules we are not part of the Euro, Cyprus is a country asking for a bailout they are basically on their knees begging for rescue and are having to impose this themselves to pay off their debts that the oh so brilliant EU set them up for this big fall.... Merkel and the rest of her chums are playing a dangerous game and have Spain, Italy, Greece, Cyprus etc all stood on stools with nooses around their necks and they have the option of kicking the stool from under them...

Its desperate measures from an EU 'STATE' to stop any member country defaulting on their bailouts because such a move could trigger a domino effect and be the catylist that brings down the whole system.
 
Last edited by a moderator:
The father-in-law is a Cypriot, he's got a couple of very wealthy cousins, one of which only banks with the bank of Cyprus (some patriotic thing)! Anyway the father-in-law says no ones heard from him for two days, he says they think he might be camped outside the bank!!lol
 
Tuttle said:
I wonder if the politicians, and their rich mates, managed to clear out their own bank accounts before announcing this tax
Click to expand...

Is the Pope Catholic is the answer to that question!



Engineer54 is conspicuous by his absence!
 
Seems like the UK Gov has promised to reimburse any UK Military personnel in Cyprus for their losses, so I guess we are all affected anyway....as the Gov only has our money to play with. Reminds me of Northern Rock a couple of years ago.
 
They cant get to the brass anyway as they closed all the banks until thursday ..... and what the betting their will be limit to withdrawals come that day but either way its gonna be a day of reckoning for the EU.
 
darkwood said:
They cant get to the brass anyway as they closed all the banks until thursday ..... and what the betting their will be limit to withdrawals come that day but either way its gonna be a day of reckoning for the EU.
Click to expand...

Ironic that the EU survives all the bail outs of the big countries yet one of the smallest of approx 1million population could be its demise.
 
Marvo said:
Lol, maybe also camped outside his bank with an 8 figure withdrawal slip in his hand ;)
Click to expand...


LOL!! Not quite, most of my liquid funds/assets are still in a couple of UK banks, and just top up the Cyprus bank account as and when!! But i'll still end up losing around 600/700+ Euros or so, if it's stays at 6.7%!!

As others have stated, this isn't going to do the Euro any favours at all. Nor will it do the EU any good. There is supposed to be a ring fence protection to EU bank accounts too (100,000), so i'm not too sure if this is even a legal move or not!! We'll have to wait and see if any representations to the European Courts are made.

What i can't make out is why would they need to raid the accounts to bail out the banks, if the deposits are so supposedly vast!! lol!! Not a single mention has been made either about the proven new found vast reserves of both oil and gas within Cyprus waters. A small portion of these reserves could have been leased to the EU as a bond towards payment of this bail out....

I don't think anyone with any real money is going to leave any huge deposits in any Euro Zone banks if this goes through Once a president has been set, that's it for politicians, it's always going to be on the cards that others will do exactly the same at a later date!! Management by Crisis has never worked and it won't this time either, it'll just create other bigger problems further down the line!!!
 

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