Cyprus parliament delays vote on deposit levy to Monday
1–10 of 52 posts
Re: Cyprus parliament delays vote on deposit levy to Monday
#2Maybe this is a terrifically ignorant comment, but it seems like the government mismanages their finances, as a result, they want the everyman to throw away 10% of their bank deposits?
WTF?
Re: Cyprus parliament delays vote on deposit levy to Monday
#3Maybe this is a terrifically ignorant comment, but it seems like the government mismanages their finances, as a result, they want the everyman to throw away 10% of their bank deposits? WTF?
The banks, not the govt. But the bailout as structured tends to conflate the two, which is part of the problem. Also it directly hurts retirees in country while protecting rich foreigners (eg, holders of Cypriot bank bonds). It's WTF from start to finish, a pretty shocking abuse of power by the rich northern EU countries. Fairness and good governance have nothing to do with it.
Re: Cyprus parliament delays vote on deposit levy to Monday
#4It's bald-faced confiscation of individuals' savings in order to bail out mismanaged banks.
Re: Cyprus parliament delays vote on deposit levy to Monday
#5It sounds like they can't get the votes to approve it, which makes sense. It's gotta be political suicide. Either way the banks are going to be destroyed.
Re: Cyprus parliament delays vote on deposit levy to Monday
#6These banks were paying 9+ percent interest on some accounts. If it sounds too good to be true, it probably is.
Re: Cyprus parliament delays vote on deposit levy to Monday
#7as a Cypriot who will lose part of his money I believe voting for this measure is the best of the two options even though both are bad for us.
Re: Cyprus parliament delays vote on deposit levy to Monday
#8bjornsing's blog post is a good read, and gets it right imho.
http://conscienceofanentrepreneur.blogspot.se/2013/03/whats-...
Re: Cyprus parliament delays vote on deposit levy to Monday
#9Maybe this is a terrifically ignorant comment, but it seems like the government mismanages their finances, as a result, they want the everyman to throw away 10% of their bank deposits? WTF?
part of the loss was due to Greece's bail out last year. Cyprus had huge investments in Greece and when Greek debts were written off Cyprus debt automatically went up overnight. add to that bad management from the government and banksters and you have an unmanageable debt.
Re: Cyprus parliament delays vote on deposit levy to Monday
#10as a Cypriot who will lose part of his money I believe voting for this measure is the best of the two options even though both are bad for us.
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