Shock in Cyprus as savers face bailout levy

reply to post by SeekerofTruth101


Yes, there must be accountability. Instead of raiding innocent people of their money they should confiscate all money and property from the bankers responsible and throw them in prison to rot. It's sickening to me that you think blatant theft of innocent depositors is acceptable.

The rich bankers continue to get huge bonuses and continue to accumulate wealth and never have to pay for their bad choices. Let them give up a few vacation homes and luxury cars to pay for it.

You think it would be just fine to take 10% from an old couple that just retired and all they have in the whole world is that 150,000 in the bank. Yea, great idea.

kingworldnews.com...

Apparently alot of KGB money is in cyprus and a big mistake has happened.

rt.com...

www.kourdistoportocali.com...

(I can't get the link with the translator to work)

The Putin reportedly said verbatim in-Cypriot President

-Better to put the German flag at the Presidential Palace. Do not you understand that this decision destroy your country?

I don't know if the situation is going to stay as is or change, and even wonder if it was set up this way on purpose.

Wote that already in another thread.
Some News regarding Cyprus I just heard on the radio.
Apparently they changed the plan to something like this:
No "tax" for deposits under 20.000€, 6.75% for those between 20.000 and 100.000€ and 12.75% for those above 100.000€.
The german government was very swift yesterday to ensure, that "german private savings will not be touched, we will remember our guarantee given 2 years ago". (when the whole crisis started and germany gave the big loans for other countries, the government guaranteed for all private deposits if a bank might crash and that private money won't be touched to save banks)
But... I don't believe them to be honest, they just don't have the power to save private deposits when the Eurocrats in Brussels want the money...

The very unfunny thing is that people say let those banks go bankrupt and just hand out the 100k € secure funds. Merkel, Hollande and Co. say that these smaller Accounts up to 100k € are secure, but they aren't. Nobody could pay those, if things go south.
No state, no bank, nobody.

If one domino stone falls, the Euro will soon be a thing of the past, maybe even peace in southern Europe is at stake here.

Originally posted by Erasurehead
reply to post by SeekerofTruth101

 

Yes, there must be accountability. Instead of raiding innocent people of their money they should confiscate all money and property from the bankers responsible and throw them in prison to rot. It's sickening to me that you think blatant theft of innocent depositors is acceptable.

The rich bankers continue to get huge bonuses and continue to accumulate wealth and never have to pay for their bad choices. Let them give up a few vacation homes and luxury cars to pay for it.

You think it would be just fine to take 10% from an old couple that just retired and all they have in the whole world is that 150,000 in the bank. Yea, great idea.

Be rational and do not try to make use of retirees to justify your personal greed and apathy to th nation.

1. Raid the bankers and the politicians wealth combine, and at most you will not even hit a billion dollars. Cyprus needs more than a billion or two to avoid defaulting on loans and go on bankruptcy.

Use your brains, or at least, do not fool those who are too clouded in judgement to think straight.


2. Why was the bailout even needed? Cyprus's bankers had mismanaged their banks and lost big over depositors money. The elected leaders screwed up in regulating them and the Cypriots were responsible for electing and giving that bunch of fools power to rule.

Fine. Don't take the EU loan. I am sure EU would be more than happy to be apathetic as you are. It is not their problem anyway, and worse, in offering to help, but at the same time ensuring banks do learn their lesson, EU gets blamed.

EU don't need these BS.

But the reality of it is - what would happen when Cyprus banks default?

1. Already long before, many depositors had already withdrawn their funds, and thus the begging bowl to EU to shore up its capital base. They realize there is not enough funds in the banks to return ALL depositors.


WIth the current idiocy, greed and apathy of every cypriot misled yet again by demagogue criminals, Cyprus DEMANDS for UNCONDITIONAL LOANS now, - which means EU members PAY for Cypriots greed and apathy in FULL, so that all cypriots can get their funds back and hide it away, and dont even bother about repaying such loans, for they had shown they had taken no responsibility for themselves and their nation's/society fault.

EU citizens are not fools. They will help when they can, even in these hard times as proven by their help to others. But if Cypriots refuses to take responsibility for its mistakes and yet wants to continue its mistakes, then no one can help Cypriots.


2. The chain of events after a default will be thus -
-Cyprus defaults on debts. It has no more money to pay salaries.
-The govt comes to a standstill. Security, Power, oil, water, daily essentials supplied by the govt stops.
-Private industry dependent on such supplies close down factories.
-Workers laid off. The best, brightest and rich of Cyprus leave the country, leaving only the unemployed middle classes and poor to their own devices.
-whatever savings they have runs out quickly as inflation shoots to the roof.
-the nation turns into a wasteland.

Go ahead. Reject the loan and its term to spread the responsiblity to all during this national emergency. May you be happy that your retirees will not need to share a bit of their savings to save the nation and people.

And may they have mercy on you when default happens and the country collapses, and every single dollar of their life savings get wiped out by inflation or become worthless paper.

I know truths are often painful, but we must confront it if we are to ever learn from it, correct them and progress. To hide, deny or rubbished it will only delay the eventuallity which will come, with far more regretful painful consequences, as the early chance to correct errors was rejected.

Get REAL....or be prepared to face the eventual self inflicted painful consequences for living in delusions. It is your choice and free will.

.

I say default on the loans, go bankrupt, get the banksters out and live again to fight another day!

Think this is foolish? Well Iceland did EXACTLY that and are thriving without the EU breathing down their necks.

cyprus is a mess

I hate to say it, but when your country is about to be utterly economically destroyed ... things get desperate.

Originally posted by WatchRider
I say default on the loans, go bankrupt, get the banksters out and live again to fight another day!

Think this is foolish? Well Iceland did EXACTLY that and are thriving without the EU breathing down their necks.

I agree and second this motion.... The whole contention that allowing the banks to fail will be a domino effect is a scare tactic. While there will be some effect felt by everyone, sometimes you just need to rip off the band-aid, clean out the infection, and allow the wound to heal.

Breaking news from SkyNews:

news.sky.com...

reply to post by WatchRider


I think the -expletive- bankers and -expletive- govt folks that caused the whole thing should be paying the citizens. Wait...That would be the right thing to do...Nevermind...

It does seem the irresponsible Cyprus govt and its foolish people want to follow Iceland's example and default.

But Cyprus is NOT Iceland.

At least icelanders don't have the russian Putin and his thieving gang breathing down their necks when they defaulted, only civilised resiliant brits whom took it in their stride when they saw their savings went up in smoke. The Russian mafia is something else.

Right now, at this time-stamp, it seems the Cyprus govt had believe that by being BELLIGERANT, as taught by the russian mafia and beholden to them, will see EU grovel and give them full loan made up by its honest taxpayers, in full, to continue with the cyprus govt and banks corrupt irresponsible way of life .

They believed that EU members are made up of Neville Chamberlins, and totally easy to manipulate.

In a way, Belligerance do pays.

In my naive youth, I and my friend once entered a restaurant, was shown to a table near a kitchen, despite there were empty tables elsewhere. I was a gentle soul and minded it not. The service and food was terrible, despite it being ranked with Michellin stars. And I was expected to give a tip, which I kindly gave.

When I related this incident to my another friend, he laughed at me, and told me I had been taken advantage of due to my naivety and gentleness. He challanged me to prove his point, and brought me to the same restaurant again.

Despite being my second visit, me and my friend was hurriedly shoved into the same table - near the kitchen. My friend refused the table, and make a ruckus. The Maitre'd then quickly offer us a better table. The waiters as usual, thought that I was another easy trip, tried to gave bad service - took their time, plates were simply dumped on the table rudely, water and wine had to be begged.

But my friend had none of that. As soon as we sat down, he raised a ruckus again when the waiters were ignoring our call for orders. The Maitre'd hurried over, heard our complain, and apologized, The service came, and when it not served well, my friend raised his voice in the crowded restaurant, scolded the waiter outright. The Maitre'd hurried over, cool things down and offered us free wines, and then on, the service was good, even the food as it seems the waiters were more careful to meet the demands of my friend.

When the meal ended, as the bill came, my friend took his time and scrutinized it, and then slowly took out the bill and paid it, tips and all, but down to the last penny. The waiter was all smiles, as he helped to pull out the chair for my friend to leave.

I was shocked, for I don't believe anyone should put up with such crass behaviour, for I would have kicked the customer's butt out, but unfortunately, that's how it worked, as explained by my friend. You have to be belligerent, to show who is the boss or you will be only treated as a wimp, to be taken advantage of all the time.

To prove his point, he and I went back again, but this time, from the start, we had the best table and service.

A simple illustration no doubt, but a PRINCIPLE evil always adopt inorder to get their way. It was proven with Stalin, Mao, N.Korean ruling dynasty, China, Iran, etc.

Does EU needs Cyprus? No it does not, more so when its people and govt are hell bent on continuing their irresponsible mismanagement of the economy while enjoying the fruits of civilised and responsible EU community.

If it wants it way, then let them. Let them think the Russia bear will support them, because they won't when it falls under the orbit of Russian hegamony. It only becomes another russian state and have no use, for it won't have the benefits of the international benefits of being in EU.

Its gas reserves are over stated, as every nation discovers they too have their own reserves and prices will only tumble, including russia's. Putin and his gang of thieves had proven themselves unwilling to share our world responsibily, so let them, for emperor putin will not live forever, nor will its citizens let him.

Cyprus will then have to live by itself, and trade with high tariffs, its citizens with inconveniences to trade and travel within EU, etc.

That's the price one must pay for their own free will choice. EU must be flexible - to know when to be hard, and when to be soft. Cyprus had long ignored EU calls for reforms and regulatory frameworks, and to continue to keep it on with its irresponsible and criminal ways will only destroy the principle and values upon which EU was founded, and tear it apart.

Save the 17 billion dollars to bailout Cyprus, as the foolish cypriots hate it so much, and think belligerance is the manner to get its way. A dollar saved is a dollar earned, for far more worthy causes and needs by other members in EU.

Cyprus gives Democracy lessons and wrote history!

I'M SO PROUD!!!

Originally posted by Hellas
Cyprus gives Democracy lessons and wrote history!

I'M SO PROUD!!!

Enjoy your fleeting moment in the sun.

I will keep your post for posterity, and see if you will say the same thing.

Democracy is a power, and with power comes responsibilities to oneself and to others in society sharing the same space.

By rejecting the loan and expecting an unconditional handout by EU without taking or even learning one's responsibility, it had only proven DEMOCRACY had failed in Cyprus.

It had only regressed back to the jungles - each cypriot for himself.

And if such belligerences continues on, with no desire to take responsibility, Cyprus will become the next Somalia.

reply to post by SeekerofTruth101

Cypriots are not responsible for the actions of banks and politicians since unless violent protests and demonstrations take place every single time the government does something bad, it is impossible to stop the decisions of banksters and polieticians.

If you want 'responsibility' perhaps polieticians and banksters should take personal responsibility for their failings and not blame the common people. This is why they are paid the big bucks after all.

reply to post by Elliot


The citizens ARE responsible for whom they vote and give power to. Thus it calls for rationality when the time comes to vote, but unfortunately demagogues with populist but unsustainable promises gets the vote. Education will have to play a bigger part if democracy is to win one day, and it will.

But I do agree with you FULLY that the govt and the banksters are accountable for the mistakes made.

However, we can no longer change the past, for what happened...had happened. BUT we can still change the future, and it calls for rationality, within societies, for each to think and consider about the others long term, and not just for one's own survival.

The mistakes of the past cannot be allowed to happen again. By rejecting the loan and its conditions, and expecting a handout from EU is only to repeat the same mistakes again, for the pain is not felt and learnt by all, greed and complacency eventually over-rides everything else, as it happened before.

reply to post by SeekerofTruth101


You yourself said that you and your friend were belligerent and complained. Things changed in your situation.
The same thing has to happen when dealing with banks and people in charge. If it means destroying economies and starting over so be it. Bank rules only favor the banks. Enough is enough.

reply to post by SeekerofTruth101


Voting is a joke. It is an illusion given to the sheep to make them think they are changing things. Real power cannot be given it must be taken. Banks and politicians need a wake up call.