Skip to comments.Cypriot Authorities in Revised Deal Talks
Posted on 03/17/2013 6:47:25 PM PDT by dynachrome
"We had proposed a levy with a rate of zero below 100,000, and a higher one afterwards," said the official. "The Cypriot president did not want to agree to a levy higher than 10 per cent, and if you do the numbers you get the 6.75 and 9.9 [percent]."
Cypriot officials insisted no levy on smaller depositors was impossible. One senior Cypriot official involved in the talks said that because about 35 percent of all deposits are below the threshold, exempting them would mean a rate so high for the rest that it would no longer be viewed as a tax.
"If this is successful then it will be used in the future," said the dejected official, predicting Spanish and Italian banks could face similar levies. "If this is not successful then who cares about Cyprus."
(Excerpt) Read more at cnbc.com ...
They are trying to hammer out the exact amount they intend to steal.
Something like $19.7 Trillion in US private retirement accounts.
Wait and see whether our heroes in DC come after those who have ‘too much’ in order to continue the spending.
Five years at most.
Of course they’re stealing stuff that was already stolen at least once before, since most of the depositors are Russian oligarchs.
When asked for a comment regarding the seizure of 10% of citizens bank accounts in Cyprus, President Barrack Obama said, Why didnt I think of that?
Heh. It may not be a done deal yet.
“But the rescue has already been thrown into doubt with Cyprus’ parliament postponing an emergency session on Sunday to discuss the levy and several parties opposing the deal.
“When the dust has settled on this deal, which I hope it never does, we will see that the single market has been sold down the river for a shoddy price,” said the EU parliament’s Bowles.”
Yeah, it's just like Congress. They know how much they want, they just have to decide whom to fleece.
Undoubtedly “contingency plans” to that effect have been written. However, getting the civilized world through *today’s* development is still an open question.