Posted on 03/18/2013 12:53:38 PM PDT by 2ndDivisionVet
Over the weekend, the citizens of Cyprus discovered that help was on the way as their debt-laden island nation learned that the European Union and the International Monetary Fund had agreed to provide Cyprus with $13 billion in bank bailouts. But there was a catch: no longer were these funds going to be pain-free. Average Cypriots would have to pony up as well. 6.75 percent of all deposits in Cyprus-based banks below 100,000 Euros would be reclaimed by the government. Depositors with over 100,000 Euros would have to surrender 9.9 percent of their savings. The news spread like wildfire. The citizens of the Mediterranean nation took to the streets. They raided their bank accounts. President Nicos Anastassiades took to the televisions cameras as panic spread. The banks were closed. A vote on the deal postponed. The governments of creditor nations across the planet held emergency meetings in the fear that the crisis in Cyprus could spread beyond the nation’s watery borders. Today, residents of the Eurozone watch the smoldering scene in Cyprus for materializing fallout. The debt crisis had arrived in Europe. No longer is this theoretical of hypothetical; this is what a debt crisis looks like.
The panic that resulted from the proposed $13 billion bailout deal has scuttled the plan in its present form. There are nearly 70 billion Euros in Cypriot banks from outside the country. The Russian government in particular is expressing their revulsion over the bailout plan, given that Russian banks and corporations have more than $31 billion in Cyprus-based banks. A spokesperson for the Russian government made it clear, however, that a deal that bails out the island nation and levies only the funds of native Cypriots would not be opposed by Moscow.....
(Excerpt) Read more at mediaite.com ...
Not to the mass uninformed.
At least 47% in this declining country would be just peachy with the idea of the government raiding savings accounts if they get the idea it’ll result in their redistribution.
...which the GOP will fumble and lose...just as they always do.
The GOP is dead, dead, dead. Oh, GOP, take McQweeg and the rest of the RINO b*stards with you.
Long live their conservative replacements.
I think they wouldn't even care if they benefit from it, just that they can see the rich "getting theirs'"
The GOP should immediately draft a bill that makes this type of activity illegal.
“I think they wouldn’t even care if they benefit from it, just that they can see the rich “getting theirs’”
And probably demand that the confiscation was more like 75% while they are at it.
Which type of activity illegal? People protected their money?
Gunner
My husband’s been following this - says the Russians are laundering LOTS money through Cyprus and this is what they are trying to control here.
You could count on Boehner to say, Government confiscation of savings accounts is not a crisis.
And I thought grandpa was a little loopy for refusing to keep his money in a bank (he had upwards of $60,000 stashed in his dresser when he died). It looks like he might have been ahead of his time...
If the GOP ignores this, they can roll over and go back to sleep in 2014.
Even when our entire country, culture, and economy is on the line, they don't see fit to rise to the occasion. Instead, they resort to ‘blaming’ conservatives and traditional, time-tested, American values for their embarrassing performance year after year.
Hence the reputation of being the ‘Stupid Party’.
That's one of the claimed rationale for doing this. Germany in particular has been using the excuse.
The problem is that it won't just be the Russian mob that gets hit by this -- average Cypriot citizens will be subject to it as well.
It's kinda of like fighting crime with gun control. It won't affect the criminals: they'll just change tactics.
The real rich have their accounts off shore not in US banks. I wonder though, where their investment portfolios might be .....
Whenever a RINO/DINO claims there is a crisis, there is no crisis.
Whenever a RINO/DINO claims there is no crisis, there is a crisis.
Simple rules for surviving a corrupt and illegal national government.
What would it matter? When it hits the fan they'll make up the rules as they go along. Have you already forgotten 2008 and everything that followed?
Vichy Republicans - not even good for landfill.
“Proposed Nightmare Raid Of Bank Accounts In Cyprus Is A Powerful New Tool For The GOP”
Yes. Therefore, it will not be used.
Itstead the Grand Ole Potsitters will stress how they “want to work with the President.”
oboozo hussein is bent on massive government spending and he obviously wants to take our firearms. Could confiscating our bank accounts also be part of his plan? Patrick Henry new all too well if the people had no right to own firearms they would be helpless to stop the government from taking anything they want from the people. PH’s words in the Virginia State house arguing in favor of the Second Amendment were (para phrasing): If the government controls the purse and you have no firearms and when the government comes for your property, what shall you do, tell them?? The man had vision!
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