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Title: The entire EU going the way of cyprus.... Post by: CharlesPonzi on March 27, 2013, 07:22:13 AM http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html (http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html)
Prepare the vaseline EU citizens.... Title: Re: The entire EU going the way of cyprus.... Post by: Timbert33 on March 27, 2013, 08:32:26 AM They're only taking money from accounts that are larger than the government insures, correct?
e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros? Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots. Why would you ever have uninsured money? Just split it between accounts?? Title: Re: The entire EU going the way of cyprus.... Post by: thoughtfan on March 27, 2013, 08:48:49 AM They're only taking money from accounts that are larger than the government insures, correct? As I understand it that's against the rules. Not saying it's not done but those who want to keep above board and declare all savings won't be saved that way. I'm not saying people keeping that much money an inflating currency in a savings account with hardly any interest aren't idiots but...e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros? Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots. Why would you ever have uninsured money? Just split it between accounts?? Title: Re: The entire EU going the way of cyprus.... Post by: inge on March 27, 2013, 01:15:54 PM Cyprus has a very peculiar political and financial situation (plus it is an island with no escape, but swimming:+)…).I don’t believe ECB will apply the same strategy to countries like Spain or Italy.
Regards, Inge Title: Re: The entire EU going the way of cyprus.... Post by: QueenElizabeth on March 27, 2013, 01:22:04 PM Cyprus has a very peculiar political and financial situation (plus it is an island with no escape, but swimming:+)…).I don’t believe ECB will apply the same strategy to countries like Spain or Italy. Regards, Inge I second this - also, these situations are not comparable. Just look at the ratio between assets of the banking system and GDP. The only country that surpasses Cyprus in these terms is Luxembourg, but the situation over there is entirely different, with rock-solid government finances and most importantly large profits / insignificant share of bad assets that cannot be absorbed by the banks involved. Title: Re: The entire EU going the way of cyprus.... Post by: OnlyGoodVibes on March 27, 2013, 02:30:11 PM I'm pretty sure nobody on this forum actually understands what is happening in Cyprus.
Title: Re: The entire EU going the way of cyprus.... Post by: josiahgarber on March 27, 2013, 02:30:44 PM I'm pretty sure nobody on this forum actually understands what is happening in Cyprus. Why do you say that? Title: Re: The entire EU going the way of cyprus.... Post by: QueenElizabeth on March 28, 2013, 08:45:11 AM I'm pretty sure nobody on this forum actually understands what is happening in Cyprus. Why do you say that? I can take questions - as an economist, i.e. someone who will tell you tomorrow why yesterday we were not able to predict what would happen today. Title: Re: The entire EU going the way of cyprus.... Post by: alexeft on March 28, 2013, 12:33:13 PM I'm pretty sure nobody on this forum actually understands what is happening in Cyprus. Why do you say that? I can take questions - as an economist, i.e. someone who will tell you tomorrow why yesterday we were not able to predict what would happen today. Finally, someone who admits to that instead of pretending to be scientist!!! WOW!!! Title: Re: The entire EU going the way of cyprus.... Post by: ||bit on March 28, 2013, 12:49:55 PM http://www.businessweek.com/articles/2013-03-28/bitcoin-may-be-the-global-economys-last-safe-haven (http://www.businessweek.com/articles/2013-03-28/bitcoin-may-be-the-global-economys-last-safe-haven) Title: Re: The entire EU going the way of cyprus.... Post by: gradient vector on March 28, 2013, 05:47:50 PM http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html (http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html) Prepare the vaseline EU citizens.... Bitcoin users not affected. Title: Re: The entire EU going the way of cyprus.... Post by: Mike Christ on March 28, 2013, 07:28:15 PM I'm pretty sure nobody on this forum actually understands what is happening in Cyprus. You don't sound very confident in that statement, Mr. Pretty Sure. Title: Re: The entire EU going the way of cyprus.... Post by: Sword Smith on March 28, 2013, 08:23:19 PM Cyprus has a very peculiar political and financial situation (plus it is an island with no escape, but swimming:+)…).I don’t believe ECB will apply the same strategy to countries like Spain or Italy. http://www.gifsforum.com/images/gif/lol/grand/sarkozy-lol-eccbc87e4b5ce2fe28308fd9f2a7baf3-1659.gifRegards, Inge Wow. What made you come to this forum? Title: Re: The entire EU going the way of cyprus.... Post by: wachtwoord on March 28, 2013, 08:43:56 PM They're only taking money from accounts that are larger than the government insures, correct? As I understand it that's against the rules. Not saying it's not done but those who want to keep above board and declare all savings won't be saved that way. I'm not saying people keeping that much money an inflating currency in a savings account with hardly any interest aren't idiots but...e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros? Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots. Why would you ever have uninsured money? Just split it between accounts?? The Dutch government guarantees 100k for each banking license. It is allowed to split (but some banks are owned by companies with 1 license and 1 bank has numerous licenses). I doubt they'll do the same thing in Nothern Europe. They'll just print themselves to oblivion. |
