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Happy Panther

Government takes personal savings accounts

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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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Cantrell...these are socialists confiscating the money.

dear delhommey,

please forward this post to your european friends

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

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