EU Seizes Control of Cypriot Bank Accounts

Discussion in 'Current Affairs, News and Analysis' started by maninblack, Mar 16, 2013.

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  1. maninblack

    maninblack LE Book Reviewer

    • Like Like x 2
  2. They have frozen bank accounts as of COP Friday. Closed ATMs and will deduct percentage of all accounts when banks re-open on Tuesday!

    No consultation with the Cyprus Parliament. No discussions, no exemptions, no allowances. The EU have decided - that's it.

    Welcome to the Brave New world of the European Super State.

    Just wait until the labour party comes to power in the UK, increases spending and the agencies reduce the UK's Credit Rating to junk status. The EU will then do the same to the UK
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  3. The temptation of all that Russian money in the bank was obviously too much. The price paid for buying EU citizenship.
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  4. Auld-Yin

    Auld-Yin LE Reviewer Book Reviewer Reviews Editor

    How long before things change? This has been done to Cyprus as part of a bail out package, but what will happen in the future if the EU budget needs a boost to pay for reloading the trough? Will the EU do a pre-emptive strike on savings. I think we can now consider ourselves as being in a dictatorship but with no one person as head dictator.
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  5. What do you expect from Socialists - in the main, people who have inherited money, never worked, and have no idea of how an economy runs. As Maggie once said "the problem with Socialism is that eventually you run out of other peoples money to spend". They only understand taxation and 'public' spending.

    And yes, just wait until Labour return and do the same trick.
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  6. I don´t blame the EU,Cyprus needs 10 Billion but their banks have 27 Billion in their vaults so why not borrow off their own b anks?
    They´re only charging interest to those who have more than €100,000 in their kitty so the little man on the street isn´t really involved,just the crims really?
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  7. You'll be happy to lose 6.7% of whatever you have in the bank to help Osbourne sort the country out then will you?

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  8. But why is a little island like Cyprus in trouble. Loads of holidaymakers, loads of hotels, people retiring, business registrations - loads of income tax, so what has been going on for the island to get itself into trouble?
  9. [​IMG]
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  10. It is for your own good eurocitizen!

    Nothing to see, move along, and don't forget to vote YES.
  11. According to just one source 'Money Laundering'. Hardly surprising with amount of Russian's involvement over there.

    'But a leaked report by the German intelligence service last year said they hold billions of euros belonging to Russian investors, some of whom are linked to organised crime'. / Economic Affairs / Money laundering probe boosts prospect of Cyprus bailout

    And quite a few others sources are following suit however the Cypriot banks are stating due to assisting Greece their own banks require fiscal prop up now.
  12. At least they've got the balls to do it openly.

    Osbourne has done just as good a job at trashing savings here by printing money and keeping interest rates low. People will lose much more than 9% real terms over the length of the fiscal crisis.
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  13. You haven't read the story at all, have you?

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