Gandalph Posted March 17, 2013 Report Share Posted March 17, 2013 Anyone with savings in a Cyprus bank will lose some of their money under a ground-breaking bailout deal agreed by European finance ministers.Bank customers will pay a levy of up to 9.9% on their savings, a charge which will raise nearly 6bn euros (£5.1bn).Cyprus is the fifth country to seek a bailout following Greece, Ireland (OTC BB: IRLD - news) , Portugal and Spain but the terms of the deal are a radical departure from previous schemes.EU finance ministers have agreed to lend the indebted island 10bn euros but in return the public will be forced to forfeit part of their savings.Savers with more than 100,000 euros (£86,500) in the bank will be charged a one-off levy of 9.9%. Those with less will be charged 6.7%. More here: http://uk.finance.yahoo.com/news/cyprus-bailout-savers-lose-money-135204923.html Quote Link to comment Share on other sites More sharing options...
Alan2273 Posted March 17, 2013 Report Share Posted March 17, 2013 I bet the Cypriots are really happy about that.Why are the ordinary savers being hit for something that was caused by the greed of a minority. Quote Link to comment Share on other sites More sharing options...
AlanHo Posted March 17, 2013 Report Share Posted March 17, 2013 The main sufferers are the thousands of rich Russians who do not live in Cyprus but have salted away their funds there to keep them out of Russia. Sad innit.................... Quote Link to comment Share on other sites More sharing options...
andsome Posted March 17, 2013 Report Share Posted March 17, 2013 It's the ordinary man/woman who I feel sorry for. Once again the mistakes and misdeeds of bankers are going to hit other people. Much of the lossis due to the Cypriot banks lending huge amounts to Greece. How stupid can they be? More info on here.http://www.bbc.co.uk/news/world-europe-21817197 Quote Link to comment Share on other sites More sharing options...
catgate Posted March 17, 2013 Report Share Posted March 17, 2013 It is all very sad and also criminaly wicked. It was also inevitable, and unless a complete rejigging of the way we view money takes place it will continue to happen. Have a look here :- http://realitymoney.page.tl/So-whose-money-is-it-anyway-f-.htm Quote Link to comment Share on other sites More sharing options...
rong Posted March 17, 2013 Report Share Posted March 17, 2013 Did they get the idea to punish the people with savings from the British government Quote Link to comment Share on other sites More sharing options...
Gandalph Posted March 17, 2013 Author Report Share Posted March 17, 2013 Reminds me of a film I watched a while ago which stared Danny DeVito in which he played a millionaire New York Real Estate speculator. He said, "He who dies owning the most, wins". He couldn't give a damn about the workers of the Companies he was taking over just as long as he could make a profit selling the Company on. Quote Link to comment Share on other sites More sharing options...
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