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EU - Cyprus confiscating 10% of all bank depositors money

 
Anonymous Coward
User ID: 25720208
United States
03/16/2013 11:11 AM
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EU - Cyprus confiscating 10% of all bank depositors money
And so it begins.... All Cyprus banks this weekend have frozen electronic transfers while a bailout is brought in. There will be a "bank holiday" on Monday and then on Tuesday, March 19th, 10% of every bank depositors savings will be taken and transferred to the central planners and central banksters.

[link to www.telegraph.co.uk]
Anonymous Coward (OP)
User ID: 25720208
United States
03/16/2013 11:12 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
This is important.....shin this pit!!!!!
Anonymous Coward (OP)
User ID: 25720208
United States
03/16/2013 11:17 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
....."The terms of the deal mean that Cyprus’s savers will sacrifice up to 10% of their deposits in a move which will raise as much as €6 billion.

The move, which is likely to prove unpopular with the country’s 1m citizens - and the Russian non-residents who reportedly account for half of deposits in Cyprus’s banks - will be enacted almost immediately.

Following a bank holiday in the country on Monday, March 18, the levy on bank deposits will come into force on Tuesday, March 19.

The Cypriot government will take steps to prevent electronic money transfers over the weekend, in order to stop depositors attempting to avoid the curbs."
Anonymous Coward
User ID: 16178844
United States
03/16/2013 11:17 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
So now they're freezing all accounts?
Anonymous Coward (OP)
User ID: 25720208
United States
03/16/2013 11:32 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
This is a trial balloon for the ECB and BIS to see what kind of reaction the people of Cyprus have. If it's "manageable" then watch for this type of action to start taking place in Portugal, Ireland, Italy, Greece, and Spain!!!!!

This gambit could be the beginning of the end-game!
Anonymous Coward
User ID: 1179421
Spain
03/16/2013 11:35 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
rob the people then rob the people again to pay for the first robbery .. genius !
Anonymous Coward
User ID: 1389937
Estonia
03/16/2013 11:37 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
This is a trial balloon for the ECB and BIS to see what kind of reaction the people of Cyprus have. If it's "manageable" then watch for this type of action to start taking place in Portugal, Ireland, Italy, Greece, and Spain!!!!!

This gambit could be the beginning of the end-game!
 Quoting: Anonymous Coward 25720208


I think you're right - Cyprus is a way to prod the people's reaction and set a precedent.


I wonder if this applies only to spare money on the accounts or also to assets like stocks, bonds, retirement funds etc.
Skepticnumberone

User ID: 36241910
United States
03/16/2013 11:47 AM

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Re: EU - Cyprus confiscating 10% of all bank depositors money
Scary stuff. How many on GLP are going to lose that 10%?
Skepticnumberone
Anonymous Coward
User ID: 3767410
New Zealand
03/16/2013 11:51 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money

[link to www.youtube.com]
Anonymous Coward (OP)
User ID: 25720208
United States
03/16/2013 11:53 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
Gerald Celente is going to be all over this next week!
Anonymous Coward (OP)
User ID: 25720208
United States
03/16/2013 08:43 PM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
bump
Anonymous Coward
User ID: 36331206
03/16/2013 08:47 PM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
[link to kingworldnews.com]

“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’ Russian ‘black money’ is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Whose money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made.”
Anonymous Coward
User ID: 913721
Netherlands
03/17/2013 04:18 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
Don't forget to read this thread :

[link to godlikeproductions.com]
Anonymous Coward
User ID: 26448516
03/17/2013 04:24 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
I will be withdrawing my paltry sum from the bank tomorrow , I dont have a lot of savings but its MINE.....this is going to create a lot of problems for the banks , people are not as trusting as they were , I d be gutted to go to the ATM to find out I couldnt not withdraw my own money then the government had taken 10% of it....thats cruel !!
Anonymous Coward
User ID: 12169011
Australia
03/17/2013 04:25 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
There is already a major thread on this
Anonymous Coward
User ID: 12169011
Australia
03/17/2013 04:26 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
Thread: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Limpan

User ID: 1474973
Sweden
03/17/2013 04:26 AM

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Re: EU - Cyprus confiscating 10% of all bank depositors money
wow

so they are outright stealing peoples money now?

holy shit
 Quoting: ^TrInItY^


I can't belive this!! So sick!!
I wonder if it will be like a forrest fire and spread to other europeantour countries...
Anonymous Coward
User ID: 22373790
United States
03/17/2013 04:27 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
[link to kingworldnews.com]

“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’ Russian ‘black money’ is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Whose money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made.”
 Quoting: Anonymous Coward 36331206


Ahhh shit.
watchZEITGEISTnow

User ID: 36323858
Australia
03/17/2013 04:27 AM

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Re: EU - Cyprus confiscating 10% of all bank depositors money
well that don't sound good...
NASA Moon - Mars - Saturn ANOMALIES: [link to www.youtube.com]
Anonymous Coward
User ID: 35898554
Finland
03/17/2013 04:29 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
[link to kingworldnews.com]

“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’ Russian ‘black money’ is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Whose money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made.”
 Quoting: Anonymous Coward 36331206


They say that Putin's money is in Switzerland. But many russian criminals have their money in Chyprus. Those people are now veeery angry....
Anonymous Coward
User ID: 1278561
United States
03/17/2013 04:29 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
Tax it when you work for it


Tax it when you spend it

Take it if you save it

And people think they aren't slaves
Anonymous Coward
User ID: 36347452
Germany
03/17/2013 04:30 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
It's not stealing of the depositors' money, but stealing money from European taxpayers to make sure rich iNTERNATIONAL investors don't lose their money. Big difference. 10 % is about 50 % of the interest rate p.a.. The investors/banks receive 10 billions from Europe.
Anonymous Coward
User ID: 36347452
Germany
03/17/2013 04:32 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
Tax it when you work for it


Tax it when you spend it

Take it if you save it

And people think they aren't slaves
 Quoting: Anonymous Coward 1278561


10 % is about half the interest rate these millionaires get per annum. The rest of their investment is compensated with taxpayers money from Europe.
Anonymous Coward
User ID: 33676911
United States
03/17/2013 04:32 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
remember may..last year?

Greek depositors withdrew €700 million ($898 million) from the country's banks on Monday, fueling fears of a bank run amid the growing political disarray.
Live: Europe's Debt Crisis
[debtstream0510]
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With deposits falling, Greek banks become even more dependent on the European Central Bank to meet their funding needs, exposing the central bank to potentially huge losses if Greece leaves the euro area.

Greek President Karolos Papoulias told the country's political leaders that bank withdrawals plus buy orders received by Greek banks for German bunds totaled some €800 million on Monday, a transcript of his comments said. A central bank official confirmed the figures.
Anonymous Coward
User ID: 36347452
Germany
03/17/2013 04:35 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
well that don't sound good...
 Quoting: watchZEITGEISTnow


No, that doesn't sound good at all.

The millionaires would have lost ALL their money if EU wouldn't subsidize them with tax money from Europe. This means that every taxpayer contributes to the wealth of these International hig risk investors who get up to 20 % interst rate per year.

The investors should have lost ALL their money. Why do politicians make the European population pay for high risk investors?
Anonymous Coward
User ID: 36344168
Germany
03/17/2013 04:37 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
According to this post on a well known and well respected german economy forum, withdrawals from ATMs in Greece aren't possible anymore.

[link to www.dasgelbeforum.de.org]

(pls. use google translator)

It's getting ugly......
Anonymous Coward
User ID: 13263525
Indonesia
03/17/2013 04:41 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
According to this post on a well known and well respected german economy forum, withdrawals from ATMs in Greece aren't possible anymore.

[link to www.dasgelbeforum.de.org]

(pls. use google translator)

It's getting ugly......
 Quoting: Anonymous Coward 36344168


wow this will happen in most of euro member
insertfunnyusername

User ID: 35967835
Greece
03/17/2013 04:42 AM

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Re: EU - Cyprus confiscating 10% of all bank depositors money
bump
Anonymous Coward
User ID: 13263525
Indonesia
03/17/2013 04:47 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
bump
 Quoting: insertfunnyusername


withdrawals from ATMs in Greece aren't possible anymore. is this true ?
Anonymous Coward
User ID: 35400680
United States
03/17/2013 04:49 AM
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Re: EU - Cyprus confiscating 10% of all bank depositors money
Scary stuff. How many on GLP are going to lose that 10%?
 Quoting: Skepticnumberone


What makes you think they won't do the same shit right here in the Occupied Territories?
Limpan

User ID: 1474973
Sweden
03/17/2013 04:50 AM

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Re: EU - Cyprus confiscating 10% of all bank depositors money
And nobody is going to jail???!
They are criminals

yoda

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