CYPRUS PRESIDENT: Nation Faces Total Financial Collapse And Euro Exit Without Bailout
Now they are taking the money directly from people to save the banks ... Who is going to save the people?
Cyprus parliament postpones session to discuss bank levy
Cyprus's parliament on Sunday postponed an emergency session to discuss a levy on bank savings imposed to partially fund an international bailout needed to stave off bankruptcy.
All meetings were postponed until Monday, the Cyprus News Agency reported. Earlier, Cypriot President Nicos Anastasiades postponed an informal meeting of lawmakers called for Sunday morning.
Several parties in the 56-member chamber, where no party has an absolute majority, were meeting on Sunday morning to formulate positions over the bank levy. Three parties have already said they will not back the plan.
somebody seems intent on destroying Europe as we knew it
next they will ask for another 10% as the 1st bailout obviously wont work, especially after a run on the banks this wk
and after that, they go house to house and steel all the Gold and paintings? in the name of the Bankers bailout
so money under the mattress is best afterall
craziness...
somebody must be laughing all the way to the bank
but not in Cyprus
Something became fundamentally wrong with this world when people that are not spending what they don't have (and they decide to save it) are going to be "punished" (robbed) for that in order to save the arses of those that spent what was not their in the first place at all (banks and goverments). The time of big brother (and "his rules") seems to be closer and closer everyday
If they get away with it, that would be a classical double taxing. The next step would then be triple taxing?
Rush to ATMs in Cyprus on EU bailout tax
A planned tax on Cyprus bank depositors as part of a European Union bailout is sending people rushing to ATMs to withdraw cash.
The EU has required a one-time tax of 9.9% tax on deposits of more than €100,000 starting Tuesday, as part of a bailout of the tiny nation. On Saturday, the EU unveiled a €10 billion plan to rescue Cyprus' outsized banking sector and avoid a default.
It was the first time that the EU has insisted on such terms for bank depositors as part of a bailout. The EU's bailouts other nations in the last three years, such as Greece and Portugal, have usually been accompanied with strict budget restrictions and led to big losses for bond holders.
The Cyprus Parliament is expected to vote on the plan Monday. If it goes through, people with less than €100,000 in deposits will have to pay a tax of 6.75%.
If this is the "recipe" how they are going to solve similar problems, I would think twice before giving anything to banks. !/@#$! pickpockets
All that is just a result of a tunnel vision problem solving : by increasing taxes.
As long as the systems goes as it does (banks and governments being allies with same goals) nothing is going to change and we have to get used that "there is no place to hide" from them. Not a bright period in front of all of us "mortals"
If this is the "recipe" how they are going to solve similar problems, I would think twice before giving anything to banks. !/@#$! pickpockets
Taxes only make sense with Responsible Government & 100% honest citizenry...otherwise taxes is a weapon of oppression...Why would any government need to tax it's subjects if they print as much money (lately) as they wish to?
...would be interesting if home boys will pay few visits to bureaucrats who created that mess...."Almost half of [Cyprus'] depositors are believed to be non-resident Russians, but most of those queuing on Saturday at automatic teller machines to pull out cash appeared to be Cypriots.
While "saving", pardon the pun, yet another insolvent country merely has the intent of keeping it in the Eurozone, and thus preserving Europe's doomed monetary block and bank equity for a little longer, this idiotic plan will achieve two things: i) infuriate not just Russians but very wealthy, and very trigger-happy Russians. The revenge of Gazpromia will be short and swift, and we certainly would not want to be Europeans next winter when the average heating level of Western European will depend on the whims of Russian natural gas pipeline traffic; ii) start a wave of bank runs first in Cyprus and soon everywhere else that has the potential of being the next Cyrpus."
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In the early hours of Saturday, Cyprus agreed to a "bailout" with the EU and IMF that is very controversial because it imposes an immediate one-time tax on everyone with money in a Cypriot bank before banks reopen on Tuesday (Monday is a holiday).
The deal still needs to be passed by Parliament and that's not a sure thing.
Ekathimerini has this report:
The stakes are incredibly high. Here's a statement from Cypriot President Nicos Anastasiades warning of total financial collapse and euro exit if there's no deal (via @dsquareddigest).
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