“My bank account's got robbed by European Commission. Over 700k is lost.”
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Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#2I wonder if the FDIC can cover US deposits with leverage of 371:1… :P
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#3Comment #7 in that thread says it all:
“So you trusted a small tax haven island with your money. The plan failed. Your next step: trusting even smaller tax haven island with your money. Pure logic.”
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#4Looks to me more like 700k was blocked as part of the capital controls to prevent a bank run. The actual amount to be seized will be much smaller. Cold comfort, I know.
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#5This fellow is using Laiki bank, and the Cyprus Finance Minister said that they would be seeing an 80% haircut.
Relevant: https://twitter.com/finansakrobat/status/316813023639646208
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#6I wonder if the FDIC can cover US deposits with leverage of 371:1… :P
The unlimited FDIC protection ended December 31 2012. It's back to the 250K
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#7[deleted]
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#8Apparently he didn't read up on deposit insurance. In most EU countries, anything over Euro 100,000 is not safe.
http://en.wikipedia.org/wiki/Deposit_insurance#By_EU_country
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#9Looks to me more like 700k was blocked as part of the capital controls to prevent a bank run. The actual amount to be seized will be much smaller. Cold comfort, I know.
Doesn't sound like it[1]. It looks like it is 700k gone.
1. http://greece.greekreporter.com/2013/03/27/cyprus-finance-mi...
Re: “My bank account's got robbed by European Commission. Over 700k is lost.”
#10Looks to me more like 700k was blocked as part of the capital controls to prevent a bank run. The actual amount to be seized will be much smaller. Cold comfort, I know.
It appears that they are actually having a bank run, but they limited daily withdrawals to 300 Euros per person. The banks have been closed since the 16th and just reopened today with these new restrictions. Cyprus is in a state of financial emergency.
http://metro.co.uk/2013/03/28/gallery-people-line-up-outside...