Coming soon.....to YOUR bank!!
The EU tax on savings in Cyprus is blatant theft
When the State steals from bank account, it will come as no surprise that savers will withdraw their money the next day so that it cannot happen again. What happens to the economy then?
If they get away with this in a small country like Cyprus, and it seems they will, the next thing they will do is try it in other Countries.
I have the feeling that the EU have seriously underestimated peoples anger.
Throughout Europe, peoples trust in politicians has collapsed, EU has become a greedy foul smelling rotting organisation. An organization that is uncountable and has never had it's accounts signed off!"!
This latest European decision will cause a catastrophic loss of confidence in all banks upon which they all rely to survive, and will result in all deposits on the island to be withdrawn, resulitng in insolvency in the banks. Only a mindless Eurocrat could have thought up this suicidal idea, assisted unfortunately by the so often opening phrase - "German Chancellor Angela Merkel says".
The Cyprus financial crisis could infect banks across Europe including Britain, now that the full horror of the raid on expats bank accounts has been laid bare.
Savers in the island’s largest banks face 80 per cent of their deposits over £85,000 being wiped out, far more than anticipated, under the conditions of the EU bailout of their stricken economy. How long will it be that politicians in other countries look upon this theft as an easy way out of their problems and adopt the same strategy.