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Author Topic: Cyprus lifts all capital controls  (Read 1546 times)
countryfree
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April 06, 2015, 11:21:45 AM
 #1

http://www.bbc.com/news/world-europe-32194092

Good news but I guess the damage is done, and things will not go back to normal. I would never put any money in a Cypriot bank.

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April 06, 2015, 11:32:23 AM
 #2

You're quite right. I think the reputation is damaged. The Euro crisis is anyway coming back and the bank runs will start in the next few years again...
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April 06, 2015, 11:47:43 AM
 #3

You're quite right. I think the reputation is damaged. The Euro crisis is anyway coming back and the bank runs will start in the next few years again...

It may just be trying to instill a false sense of security, but theres nothing stopping it from happening again.  Be weary of where you put your money.
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April 06, 2015, 04:53:27 PM
 #4

You're quite right. I think the reputation is damaged. The Euro crisis is anyway coming back and the bank runs will start in the next few years again...
True, once you play with people's money just once.. its game over.
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April 06, 2015, 05:06:02 PM
 #5

http://www.bbc.com/news/world-europe-32194092

Good news but I guess the damage is done, and things will not go back to normal. I would never put any money in a Cypriot bank.

we will be safe from this bank rules,
when we will reach decentralization.
all bank power will be reset!
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April 06, 2015, 10:37:59 PM
 #6

http://www.bbc.com/news/world-europe-32194092

Good news but I guess the damage is done, and things will not go back to normal. I would never put any money in a Cypriot bank.

No one would, mainly because of horrible reputation. years will pass before things go back to normal
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April 07, 2015, 12:07:18 AM
 #7

I got money in Cyprus bank but it's in North Cyprus. There's also the biggest Btc Exchange in Turkey which is registered in Cyprus.
I would never use South Cyprus banks even they lift capital controls though. If I want my income to remain anonymous about my fiat money I prefer Swiss banks.
I remember economic crisis helped Bitcoin's peak in April 2013. There were so much drama in Bitcointalk about frozen bank accounts. Tough days for some people. It's good that it's over now.

I am not interested in preserving the status quo; I want to overthrow it. Niccolò Machiavelli
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April 07, 2015, 03:34:30 AM
 #8

I got money in Cyprus bank but it's in North Cyprus. There's also the biggest Btc Exchange in Turkey which is registered in Cyprus.
I would never use South Cyprus banks even they lift capital controls though. If I want my income to remain anonymous about my fiat money I prefer Swiss banks.
I remember economic crisis helped Bitcoin's peak in April 2013. There were so much drama in Bitcointalk about frozen bank accounts. Tough days for some people. It's good that it's over now.
PPl have lost confidence in the Cyprus banks, or many European banks. In the econimic crisis, the finacial institution or their fiat currency were hit serverely.
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April 07, 2015, 08:02:03 AM
 #9

http://www.bbc.com/news/world-europe-32194092

Good news but I guess the damage is done, and things will not go back to normal. I would never put any money in a Cypriot bank.

the cyprus's story it is an old story...
the first cyprus "cool" news was the "compulsory withdrawal" from the bank account.
and EU still here

 Grin Grin Grin
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April 07, 2015, 11:59:05 AM
 #10

You can imagine with fiat system, even if it is your money right from your own pocket, there will be restrictions telling you on what you can do and what you cannot do. I hope in time people would realize that bitcoin is the solution here.

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April 07, 2015, 12:19:11 PM
 #11

Sad to hear about this.
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April 07, 2015, 04:42:10 PM
 #12

http://www.bbc.com/news/world-europe-32194092

Good news but I guess the damage is done, and things will not go back to normal. I would never put any money in a Cypriot bank.

People may not even notice this.
There is nothing which stops them from imposing controls again, so it definitely will be off-radar for investors.


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April 07, 2015, 05:38:48 PM
 #13

It sounds about right through with towards most european banks or their financial system.

Greece as a prime example, why not cyprus? I mean its pretty comparable based on the size, but still most are on a lending terms with the central banks in london, which everyone who holds the euro.

Also germany included which is prob the 2nd largest after london.
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April 07, 2015, 06:07:17 PM
 #14

I agree with everyone else.  Only an utter fool would put money into their banks.  Even though pretty much all banks there is a chance they take your money this one has.
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April 07, 2015, 06:58:00 PM
 #15

putting your money in one of their banks is pure gambling. it has been like this for years. only fools will fall for their high interest rates.
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April 08, 2015, 12:53:06 PM
 #16

I got money in Cyprus bank but it's in North Cyprus. There's also the biggest Btc Exchange in Turkey which is registered in Cyprus.
I would never use South Cyprus banks even they lift capital controls though. If I want my income to remain anonymous about my fiat money I prefer Swiss banks.
I remember economic crisis helped Bitcoin's peak in April 2013. There were so much drama in Bitcointalk about frozen bank accounts. Tough days for some people. It's good that it's over now.

A bank from Northern Cyprus? I don't see that as safe since this country doesn't even exist in most maps. Do they pay interest on your savings? Are SEPA transfers cheap? I won't open an account there, but I'm just curious.

X
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April 08, 2015, 07:34:59 PM
 #17

I got money in Cyprus bank but it's in North Cyprus. There's also the biggest Btc Exchange in Turkey which is registered in Cyprus.
I would never use South Cyprus banks even they lift capital controls though. If I want my income to remain anonymous about my fiat money I prefer Swiss banks.
I remember economic crisis helped Bitcoin's peak in April 2013. There were so much drama in Bitcointalk about frozen bank accounts. Tough days for some people. It's good that it's over now.

A bank from Northern Cyprus? I don't see that as safe since this country doesn't even exist in most maps. Do they pay interest on your savings? Are SEPA transfers cheap? I won't open an account there, but I'm just curious.
It does exist, as an occupied area of Cyprus! ;-)

It sounds like good news for Cypriots, I agree that it will be hard to trust the government and banks again, but capital controls are not a good answer to their problems, so demoing hem can only be a good thing.
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April 08, 2015, 10:46:40 PM
 #18

Be aware of hidden capital controls, like limits on cash while traveling, limits on cash payments, high fees on dollar accounts, and taxes.

And - while Cyprus seems ok now, the point is to sense it in advance. That goes for Greece (obviously), Italy, Spain and Portugal. And you know what you can do if you don't trust any banks at all.


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tyz
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April 08, 2015, 11:53:07 PM
 #19

The credit reputation of Cyprus is totally damaged. No one will store larger amounts of money in Cryprus banks again.
If Greece will struggle and fail (and everything is going to this right currently), Cyprus will get into serious trouble and capital controls will set up again. Both economies are too interconnected to survive alone. 
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April 09, 2015, 11:44:52 AM
 #20

After that crisis and capital controls, there is not much capital left to be controlled.
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