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Major shock for Cypriots


hssutton

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anywhere else in the world this would be called theft

In the EU it's called a bail out levy.

People in Cyprus with less than 100,000 euros in their accounts will have to pay a one-time tax of 6.75%, Eurozone officials said.

Those with greater sums will lose 9.9%.

EU's latest bailout rules for Cyprus

I wonder what savers in Italy, Spain and Portugal think about this?

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fourm member

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Flak999

We've managed to agree quite a lot during this thread but I don't agree with your view of the Euro.

I think what is happening is the teething troubles of a new currency not the terminal decline of an old one.

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Flak999

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fourm member

We've managed to agree quite a lot during this thread

We have! But as I always say to FE on the very odd occasion we agree on something, "I'm sure it wont last"

Anyway, it would be a boring old world if we all thought the same wouldn't it?

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wee eddie

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I think that we can assume that Putin and/or some his Coterie have Cypriot Bank Accounts!

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wee eddie

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Please insert 'safely' between can and assume in the posting above!

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Flak999

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Cypriot Parliament have just voted to reject levy!

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Flak999

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shellship

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Several commentators have stated that the individual Brit has already been clobbered more than the average Cypriot. No Interest on savings, serious inflation - much greater than the wretched CPI - and a 20% devaluation of the pound sterling which increases the cost of everything we import.

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sunnystaines

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the british military will not be impressed if along the coast in nearby limmasol the docks are used by the russian med fleet as a base.

or turkey being upset if cyprus hads over the gas rights to russia which are in dispute on ownership with turkish cyprus.

i think the EU in the end will just up the bailout to cover the full debt to avoid the above two scenarios.

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Quickbeam

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The last I heard was that God had offered to lend them the money.

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spuds

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All we need now, is that all churches and religions get together, and the world's financial crisis is solved ;o)

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