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Cyprus Savings Levy

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By *aravancouple OP   Man
over a year ago

A Secret Hideaway In the caravan of love

Could it happen here.

News report, 10% of people's savings being taxed and taken without warning, how could the EU sanction such a disgraceful act of theft? I believe that this is theft? Monies taken without consent?

Could something like this happen in the UK

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By (user no longer on site)
over a year ago

Well with this government and their special relationship with the banks it wouldn't surprise me at all

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By (user no longer on site)
over a year ago

It could happen but I rather doubt it!

Mr Cameron would be nailed to a mast by the 1922 committee.

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By *ittle_brat_evie!!Woman
over a year ago

evesham

good job i dont have any savings lol

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By *aravancouple OP   Man
over a year ago

A Secret Hideaway In the caravan of love


"good job i dont have any savings lol"
Snap

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By (user no longer on site)
over a year ago

Very much doubt it could happen in the UK as it would cause a run on the banks with overseas investors removing their cash and plunging the UK economy into a deep recession

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By *atisfy janeWoman
over a year ago

Torquay

Greek Cyprus is a bit of an anomaly though, they have set themselves up as a bit of a mini tax haven and dumping ground for Russian money.

Cypriots have had it quite good since they joined the EU, Greek Cypriot banks have been offering very attractive savings interest rates compared to many other Mediterranean countries or the UK for instance.

Many ordinary Cypriots will get caught up in the tax levy on their savings, but it seems tonight that they may make it on those with deposits of 100,000 plus.

Tax income in Greek Cyprus is very little anyway compared to here in the UK, with many tens of thousands of Greek Cypriots who haven't paid Income tax for years such is their black economy.

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By (user no longer on site)
over a year ago


"Very much doubt it could happen in the UK as it would cause a run on the banks with overseas investors removing their cash and plunging the UK economy into a deep recession

"

You mean just like Northern Rock.

If Dave thinks he can get away with it he will.

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By (user no longer on site)
over a year ago


"Could it happen here.

News report, 10% of people's savings being taxed and taken without warning, how could the EU sanction such a disgraceful act of theft? I believe that this is theft? Monies taken without consent?

Could something like this happen in the

UK"

Already happening hs2 is robbery off people costing ne about 2 million

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By (user no longer on site)
over a year ago


"Could it happen here.

News report, 10% of people's savings being taxed and taken without warning, how could the EU sanction such a disgraceful act of theft? I believe that this is theft? Monies taken without consent?

Could something like this happen in the

UK

Already happening hs2 is robbery off people costing ne about 2 million"

HS2 is simply Nepotism.

Nothing to do with robbery at all.

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By (user no longer on site)
over a year ago


"Could it happen here.

News report, 10% of people's savings being taxed and taken without warning, how could the EU sanction such a disgraceful act of theft? I believe that this is theft? Monies taken without consent?

Could something like this happen in the

UK

Already happening hs2 is robbery off people costing ne about 2 million

HS2 is simply Nepotism.

Nothing to do with robbery at all."

My point was kind of the same tho our government is turning up at my farm and taking the lot the house the freshly converted barn and most of the land along with all the gravel that is mine from underneath it with me having no choice in the matter so I feel I have been robbed in a similar way if you know what I mean

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By (user no longer on site)
over a year ago


"Could it happen here.

News report, 10% of people's savings being taxed and taken without warning, how could the EU sanction such a disgraceful act of theft? I believe that this is theft? Monies taken without consent?

Could something like this happen in the UK"

It could happen anywhere if the government lost control on spending and tax income. More realistically though they would normally just put vat and tax up.

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By *he Happy ManMan
over a year ago

Merseyside

Yes it could happen here.

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By (user no longer on site)
over a year ago


"Could it happen here.

News report, 10% of people's savings being taxed and taken without warning, how could the EU sanction such a disgraceful act of theft? I believe that this is theft? Monies taken without consent?

Could something like this happen in the UK"
went to the cash point tonight, 40pounds less than i was expecting, printed a mini statement, 40pound still there sat ? no direct debits or standing orders on my account, so why 40 pounds gone on the sunday ? barcla** sorry the bank has got alot of questions to answer when i nxt go in there

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By *eet_the_spartanMan
over a year ago

Manchester


"Very much doubt it could happen in the UK as it would cause a run on the banks with overseas investors removing their cash and plunging the UK economy into a deep recession

"

What's a recession?

*hides under table*

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By (user no longer on site)
over a year ago

now if it were a tax i would say its unfortunate but ultimately tough luck . If you choose to live and work in Cyprus then you must pay the taxes that the government set as we all do , however this is not a tax . The government get none of the money as it all goes to the banks and for that reason its wholly unfair . In the UK people have their savings protected up to £87,000 which is guaranteed by the government so very difficult for the banks to get hold of it. Even if it was discussed then one of the banks taking a big run would be enough for everyone to think again bearing in mind the fiasco of Northern Rock

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By (user no longer on site)
over a year ago

ive only got £3.97 in my cypriot bank account let em have it lol

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By (user no longer on site)
over a year ago

It seems that sanity has prevailed and the Cypriot govt have rejected the EU's blatant raid on Cypriot savings accounts. I am gobsmacked that the EU even considered this despicable move as it is clear that Brussels regards any contract between a private individual and his or her bank is worthless if the EU decide it wants a slice of the pie.

Cyprus have rightly told the EU to fuck off and the EU knows full well that it cannot permit Cyprus to leave the Euro. The dilemma the EU now faces is to bail Cyprus out without raiding it's citizen's private wealth or else face the very real prospect of Cyprus turning the Russia for the desperately needed funds it requires to open it's banks on Thursday.

If I had money in a Spanish or Portuguese bank I'd be making plans to transfer it out of there damned sharpish!

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By *abioMan
over a year ago

Newcastle and Gateshead


"It seems that sanity has prevailed and the Cypriot govt have rejected the EU's blatant raid on Cypriot savings accounts. I am gobsmacked that the EU even considered this despicable move as it is clear that Brussels regards any contract between a private individual and his or her bank is worthless if the EU decide it wants a slice of the pie.

Cyprus have rightly told the EU to fuck off and the EU knows full well that it cannot permit Cyprus to leave the Euro. The dilemma the EU now faces is to bail Cyprus out without raiding it's citizen's private wealth or else face the very real prospect of Cyprus turning the Russia for the desperately needed funds it requires to open it's banks on Thursday.

If I had money in a Spanish or Portuguese bank I'd be making plans to transfer it out of there damned sharpish! "

the reason why cyprus is a different issue to somewhere like spain or portugal is explained rightly by jane a few posts up.......

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By (user no longer on site)
over a year ago


"It seems that sanity has prevailed and the Cypriot govt have rejected the EU's blatant raid on Cypriot savings accounts. I am gobsmacked that the EU even considered this despicable move as it is clear that Brussels regards any contract between a private individual and his or her bank is worthless if the EU decide it wants a slice of the pie.

Cyprus have rightly told the EU to fuck off and the EU knows full well that it cannot permit Cyprus to leave the Euro. The dilemma the EU now faces is to bail Cyprus out without raiding it's citizen's private wealth or else face the very real prospect of Cyprus turning the Russia for the desperately needed funds it requires to open it's banks on Thursday.

If I had money in a Spanish or Portuguese bank I'd be making plans to transfer it out of there damned sharpish! "
Do you read the Sun per chance?

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By (user no longer on site)
over a year ago


"It could happen but I rather doubt it!

Mr Cameron would be nailed to a mast by the 1922 committee."

literally, hopefully

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By (user no longer on site)
over a year ago

So the EU money grabbers have reached a deal over Cyprus. In a despicable move that has shown the EU for what it really is they have decided that in order for Cyprus to receive the €10bn it needs to survive the Cypriot govt must raid the bank accounts of one of it's banks to the tune of upto 40% of whatever is in there.

I've said before that when you open a bank account you are entering into a private deal between you and your bank that your money will be safe with them and the EU has now just proven that not to be the case at all and any future bail out in any of the members states could result in your savings deposits being seriously hit very hard. If I was a wealthy person within the Eurozone I'd be moving my money out of there instead of writing this. The Cayman Islands must be rubbing their hands with glee at the prospect of €bns heading their way over the next few weeks!

What a shocking 'deal' to have even dreamed of let alone put into place.

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By *eady_eddyMan
over a year ago

Liverpool


"So the EU money grabbers have reached a deal over Cyprus. In a despicable move that has shown the EU for what it really is they have decided that in order for Cyprus to receive the €10bn it needs to survive the Cypriot govt must raid the bank accounts of one of it's banks to the tune of upto 40% of whatever is in there.

I've said before that when you open a bank account you are entering into a private deal between you and your bank that your money will be safe with them and the EU has now just proven that not to be the case at all and any future bail out in any of the members states could result in your savings deposits being seriously hit very hard. If I was a wealthy person within the Eurozone I'd be moving my money out of there instead of writing this. The Cayman Islands must be rubbing their hands with glee at the prospect of €bns heading their way over the next few weeks!

What a shocking 'deal' to have even dreamed of let alone put into place. "

I quite agree. The only way anyone should have access to your savings is by an individual judicial order. I would like to think that this carte blanche decision is illegal and that there will be an appeal to the European Court of Rights.

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By (user no longer on site)
over a year ago


"So the EU money grabbers have reached a deal over Cyprus. In a despicable move that has shown the EU for what it really is they have decided that in order for Cyprus to receive the €10bn it needs to survive the Cypriot govt must raid the bank accounts of one of it's banks to the tune of upto 40% of whatever is in there.

I've said before that when you open a bank account you are entering into a private deal between you and your bank that your money will be safe with them and the EU has now just proven that not to be the case at all and any future bail out in any of the members states could result in your savings deposits being seriously hit very hard. If I was a wealthy person within the Eurozone I'd be moving my money out of there instead of writing this. The Cayman Islands must be rubbing their hands with glee at the prospect of €bns heading their way over the next few weeks!

What a shocking 'deal' to have even dreamed of let alone put into place.

I quite agree. The only way anyone should have access to your savings is by an individual judicial order. I would like to think that this carte blanche decision is illegal and that there will be an appeal to the European Court of Rights. "

Wouldn't that be a sight to behold, the ECHR ruling against it's higher legislative body.

The real ickey part of this new 'deal' is the EU's insistence that the bail-out funds could only be granted on the very specific condition that the Cypriot government do NOT put the deal to it's parliament to vote on, as it did with the levy 'deal' last week and found it firmly kicked into touch.

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