I feel sorry for expats in Cyprus at the moment surely the government cant raid private bank accounts and call it tax ????????
If they get away with this it will be acceptable to do it in all EU countries
They cant get away with this surely????

Money under the mattress time

Can,t get away with what??

A banking system that encouraged billions of Euros of dodgy Russian money and offered unsustainable interest rates. to investors.
The alternative is that Cyprus is allowed to fail the banks go bust, it leaves the Euro and expats lose a substantial part of their savings and property values as the cyprus £ is re introduced at a fraction of the value if the Euro.
The past vernments of Cyprus are responsible the issue is over if it is fair to penalise the small investors ( less the E25000 in their accounts )

This appears to be the latest situation.

Mr Sarris was also quoted as saying Cyprus was considering a 25% levy on deposits of more than 100,000 euros (£85,000) in its biggest bank.

http://www.bbc.co.uk/news/world-europe-21909673

Well if they do this money is going to fly out of all European banks
Including Spain. It would not surprise me if people already have higher mattresses.

It's something that can be applied anywhere, not just Europe. At least they are sticking to the 100k protected limit.

Most people if sensible, do not keep 100k in a bank account. It will make buying/selling a house a little more nerve-wracking?

Will be interesting to watch interest rates after this.

They may stick to 100,000 limit now. But what happens when they have gone through bank accounts with over 100,000? Who is left? Us. There again, they shouldn’t be taking anything. Just goes to show, only a few days after this was muted, we, the sheep, now take it for granted it is going to happen. This is how the EU works. They are leading us like lambs to the slaughter. All this from an organisation that has not signed off its accounts for the past 20 years.

In Spain they've already nicked people's money - public sector workers have had their salaries cut by over 20% since 2010.

I don't agree with the Cyprus proposal, but at least people with €100k in the bank won't go hungry or lose their homes if the govt takes a slice.

Maybe instead of raiding the accounts of the populous they should take the money from the accounts of the un-elected EU bureaucrats
Would probably solve the worlds debt problems

:

Haircut happening in New Zealand bank bailout, apparently

http://www.scoop.co.nz/stories/PA130...ew-zealand.htm

Its the cyprus governments and banks that have lostt the money not the EU.
Cyprus has probably had millions of Euros in handouts that it has wasted just like Spain Portugal, Ireland Greece etc.

These countries have not wasted the handouts.

They have invested them in offshore bank accounts for a small number of politicians.

If there's any consolation to be had from this mess, it is that much of the funds in Cypriot banks over 100,000 will probably have come from dodgy dealing and dubious sources anyway and who is gonna shed any tears if the Ruskies suffer a lions share of the grief ?

Sergai, where did you put the in-sur-ance money ?