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Raid on Cypriot deposits shakes Europeans' faith in savings (9.9% theft by govt)
Reuters ^ | Sun Mar 17, 2013 5:01pm EDT | By Harry Papachristou and Sonya Dowsett

Posted on 03/17/2013 3:32:46 PM PDT by Red in Blue PA

(Reuters) - Europeans' faith in the safety of their savings has been shaken by a levy on Cypriot bank deposits to pay for a bailout, even though there was no sign of a rush to withdraw cash in Madrid or Dublin.

People told Reuters they were angered but unsurprised that politicians should dip into citizens' deposits. And as bankers expressed concern the proposed terms of Cyprus's bailout could unnerve savers elsewhere, some leftist leaders voiced outrage.

Euro zone finance ministers want Cypriots to pay up to 9.9 percent of their deposits in return for a 10 billion euro ($13 billion) aid package. If approved by the island's parliament on Monday, it will be the first time savers have had to foot part of the bill for a European bailout.

(Excerpt) Read more at reuters.com ...


TOPICS: Germany; Israel; News/Current Events; Russia; United Kingdom
KEYWORDS: banks; cyprus; economy; eu; europeanunion; germany; greece; israel; russia; turkey; unitedkingdom
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To: allendale

You’re right. The U.S. economy isn’t a “good economy” — it’s simply less bad than the others. For now, that’s good enough. For now.


41 posted on 03/17/2013 4:26:55 PM PDT by USFRIENDINVICTORIA
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To: Eleutheria5
Canned goods. Shotgun shells and canned goods.

Also freeze dried food, ammo, guns, reloading equipment, and anything you can barter: motor oil, salt, honey, sugar.
42 posted on 03/17/2013 4:27:43 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Forgot SPAM!


43 posted on 03/17/2013 4:28:17 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA
I am thinking of an island.

You'll need a good manager won't you?

Allow me to give you my card....

44 posted on 03/17/2013 4:28:44 PM PDT by Fightin Whitey
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To: cherry

whatever happened to that story??


45 posted on 03/17/2013 4:29:21 PM PDT by GeronL (http://asspos.blogspot.com)
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To: pieceofthepuzzle
I’m thinking about land. If all falls apart, and you have the means to protect your property, at least you can grow your own food.

You missed that boat.

46 posted on 03/17/2013 4:29:41 PM PDT by EVO X
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To: Red in Blue PA

Law books. They make great kindling.


47 posted on 03/17/2013 4:33:55 PM PDT by Eleutheria5 (End the occupation. Annex today.)
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To: Red in Blue PA

Ah, the marxists among us are salivating! This is their dream! How they would love to take the money that normal people have accumulated through hard honest work without any special privileges.
How they would love to keep it or give it to the lazy slobs who vote democrat!


48 posted on 03/17/2013 4:34:35 PM PDT by I want the USA back
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To: Red in Blue PA

Cyprus will be vacant pretty soon.


49 posted on 03/17/2013 4:35:08 PM PDT by Eleutheria5 (End the occupation. Annex today.)
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To: I want the USA back

Taking gold teeth out of gas chamber victims’ corpses’ mouths was a form of redistribution. Pass-book savings account is minor larceny by comparison.


50 posted on 03/17/2013 4:37:39 PM PDT by Eleutheria5 (End the occupation. Annex today.)
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To: Red in Blue PA
Don't even joke about that. Don't even joke. Image and video hosting by TinyPic
51 posted on 03/17/2013 4:40:29 PM PDT by DrGunsforHands
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To: Red in Blue PA

What genius thought it was a good idea to take 10 percent of Cypriots’ savings? This kind of larceny isn’t going to engender faith in European banks.


52 posted on 03/17/2013 4:44:22 PM PDT by popdonnelly (The right to self-defense is older than the Constitution.)
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To: Admin Moderator

Mods, why was this taken out of Breaking News?

It is HUGE!


53 posted on 03/17/2013 4:59:46 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: AnAmericanAbroad
"It’s an economic Kobayashi Maru, to use a Star Trek analogy. The no-win scenario."

Maybe they should change the conditions of the test.

54 posted on 03/17/2013 5:00:03 PM PDT by Tula Git
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To: pieceofthepuzzle

You’ll still have to pay property taxes.


55 posted on 03/17/2013 5:02:03 PM PDT by Bradís Gramma (Psalm 83)
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To: Tula Git

From what I’ve been reading, they’re trying to soften the percentages a bit.

Not quite “changing the conditions of the test”, but more “leaving half the crew alive”.


56 posted on 03/17/2013 5:05:56 PM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: Red in Blue PA

It was breaking news yesterday but I agree on the seriousness.


57 posted on 03/17/2013 5:11:31 PM PDT by steve86 (Acerbic by Nature, not Nurture¬ô)
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To: Red in Blue PA

Steps are already being made to where this is a definite possibility in the future. How?

The Socialist ideal of a world without cash, where monetary transactions of any type are made electronically.

Such transactions require the routing number of your bank and your account number.

Now you may say no it can’t happen. But salary payments by companies via paper check are becoming rare today, one gets a stub detailing the ETF payment that was deposited into your account. Or IRS refunds, they are planning to eventually go to ETF only.

The ruse is they want to go “paperless” and save money, but once they have you bank routing information and account number they have access to your account. So they can giveth and can taketh away from your bank account, unless you have the patience and fortitude to make you account a sweep account and put the majority of your money into another account or into a non-ETF form. And even with such planning they can search for accounts you may have and once found have the banks do the theft.


58 posted on 03/17/2013 5:12:22 PM PDT by CharlesMartelsGhost
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To: CharlesMartelsGhost

NWO goal : One world government, One world currency, One world I.D., One world standard of living. Coming to a planet near you.


59 posted on 03/17/2013 5:26:17 PM PDT by BipolarBob (Happy Hunger Games! May the odds be ever in your favor.)
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To: AnAmericanAbroad

I think that those of us in America, Cyprus, and everywhere else who still do honest work and pay taxes are being played for fools by the global crony socialist government/media/banking cabal.

I no longer believe these lies that are told to us in the press; I think this is an organized effort to slowly loot the wealth of all nations, and while they’re laughing all the way to Davos and their own little private islands, the rest of us are left to beg for the scraps.


60 posted on 03/17/2013 5:29:56 PM PDT by jpl (The government spent another half a million bucks in the time it just took you to read this tagline.)
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