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Happy Panther

Government takes personal savings accounts

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twylyght    1,512

Every once in awhile I forward some of these threads to my European friends. They're always amused. It's like those videos when they have children discuss complex adult issues.

Interesting. What do your friends in Cyprus, Greece, Italy, Spain and France have to say about this?

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Davidson Deac II    4,210

Fwiw, this action was really targeted at those who use Cypriot Banks as a tax shelter for their money. That is why the EU is allowing them to exempt those whose accounts are below One Hundred Thousand Euros. A good percentage of those using Cypriot Banks are Russian. And the Russians are blaming the Germans. And there are rumblings about Russia threatening to cut off gas supplies to Germany and some of the other Euro states.

It will be interesting to see if anything comes of it.

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Miaoww    17

Fwiw, this action was really targeted at those who use Cypriot Banks as a tax shelter for their money. That is why the EU is allowing them to exempt those whose accounts are below One Hundred Thousand Euros. A good percentage of those using Cypriot Banks are Russian. And the Russians are blaming the Germans. And there are rumblings about Russia threatening to cut off gas supplies to Germany and some of the other Euro states.

It will be interesting to see if anything comes of it.

I thought the rate was just higher for accounts with over 100k in?

It's something like 6.7% for those less than and 9.7% for those with more than 100k in the account.

So everyone is paying.

Obviously it's state sanctioned theft.

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Davidson Deac II    4,210

I thought the rate was just higher for accounts with over 100k in?

It's something like 6.7% for those less than and 9.7% for those with more than 100k in the account.

So everyone is paying.

Obviously it's state sanctioned theft.

You might be right, when I read it earlier several different options were being debated.

I just read though that the Cypriot government rejected it anyway, so its not going to happen. If they want a bailout from the EU, they are going to have to go back to the drawing board.

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Delhommey    2,796

I thought the rate was just higher for accounts with over 100k in?

It's something like 6.7% for those less than and 9.7% for those with more than 100k in the account.

So everyone is paying.

Obviously it's state sanctioned theft.

It's no worse than any other austerity measure. Just more direct.

It's just more direct theft

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pstall    5,759

my friends in madrid say the black market and cash under the table is thru the roof right now.

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