Wow, could it ever happen here, basically up to 10% of what you have in your bank is been taken, you get worthless shares in return but wow, I wouldn't like that would you ?
I'd love to know what law they're imposing by demanding money. If someone turned up at your door and demanded 10% of your household
you'd be looking for the black mask and the sack with 'swag' written on it.
But just in case, I'm going to look on Ebay for an appropriate land moving vehicle, seems like a very acceptable approach...
In real terms really no different from what the the British and nearly every western government did when they spent public money to bail out
bankrupt banks --- in not just the current financial crisis but remember the disastrous foreign loans fiasco of the 1990s when zillions of
worthless debt was written off.
My understanding is for "normal" people in Cyprus it is only 6% (!!) or so of what they have in the bank and all the loop holes were
instantly blocked.
[Edited on 17/3/13 by britishtrident]
Think I read somewhere that the government picked a long weekend when the banks would be shut to do the robbery , it's going to be a riot come
bank run when they finally open and to add to the drama quite a bit of dodgy Russian mafia money has been caught up in the tax snatch ....... I
wouldn't like to be the manager of that bank
In Cyprus from ow on, and any other country where this might happen (Italy, Spain?). Won't people just move their money causing a massive run on
the banks?
It's not like they are getting lots of interest.
Stu
I think this will end up in the Euro court of 'uman roights", where it will be deemed illegal - no different to Spains attempted land
grab.
If not, and it had happened here, I'd be at the front of the queue demanding everyone in government and in the banks concerned put their heads
through a nice noose I'd prepared earlier for them!
ATB
Simon
quote:
Originally posted by whitestu
In Cyprus from ow on, and any other country where this might happen (Italy, Spain?). Won't people just move their money causing a massive run on the banks?
It's not like they are getting lots of interest.
Stu
Does is follow if you have negative savings.
Don't think it will get through their parliament, and I don't think it's fair either. If the banks folded then the deposits would be
protected, so pilfering them now just seems a bit snide.
Also unfair because the balance in your bank is a poor measure of your wealth.
[Edited on 17/3/13 by JoelP]
It seems mr Putin has started to apply pressure before the government vote ....... The death of the euro and the eu has been a slow painful process
and it will be a miracle if it doesn't end in shooting
The trouble with the western world is we don't have enough lamp posts to lynch bankers from ;-)
[Edited on 18/3/13 by britishtrident]
Double that as politicians need lam posts too!
Do it the Locost way; do a few politicians first and then let the surviving ones sort the bankers out.
seems rather strange.
people who saved and lived within their means get robbed whereas those that didn't, borrowed and took out loans that had to be defaulted
aren't. ... is my simplistic and probably incorrect take on the situation.
so long as they dont try it here.... Perhaps they will though
I'd like to see that, look at what happened when people hear rumours round here!
Northern Rock had a run on them based on the rumour they were folding
Every petrol station in the country got blocked up with pratts when a few protesters said they might blockade again
I See the Cypriot parliament have voted against it
Be interesting to see what the next move is now...
Bring it on in the UK and lets see these bastards fall. Tory wankers, Labour wankers, liberal bum lickers and banking greedy fukwits
quote:
Originally posted by richardh
Bring it on in the UK and lets see these bastards fall. Tory wankers, Labour wankers, liberal bum lickers and banking greedy fukwits