European Union is robbing its citizens' bank accounts. 9.9% to be confiscated.

[zeroday]

Today I found that I cannot transfer money from my company's account in Cyprus (EU) bank.
All money on all accounts are frozen until they debit 9.9% newly established "tax" to "support" rotten European economics.

This is for real, I'm really losing 9.9% of my assets which fu*king EU will confiscate to patch their own economical mistakes 

Angry crowds on streets in Cyprus are trying to withdraw something from their cards in ATMs.

Nobody's money are secure in EU banks now.

Just read news

[giantdragon]

I think it is good news for Bitcoin - some people who lost funds in these banks may turn savings into cryptocurrency.

[zeroday]

That's true. Actually my losses, caused by stealing 9.9% of my account balance by EU Government, are compensated by gains made from the rise of BTC value. I bought some BTC a year ago and now I'm really happy I did it.
Now i see that "Anarchists Cryptocurrency tha is Backed by Nothing" is really more secure than EURO currency which is backed by European Government.

When they finish robbing my bank account and finally unlock it, I'll flush all those damn EUR to buy more gold and bitcoins.

[Global BTC]

Is this really a EU thing, and not a Cyprus thing?

[pinger]

Probably it is. Lets see what happens on Monday if people go to take their money from the bank on other countries like Greece, Spain, Italy, Portugal or Ireland.

[zeroday]

Is this really a EU thing, and not a Cyprus thing?

Yes it is. EU has explicitly insisted on it. Read this:

Early Saturday, the nation (Cyprus) reached an agreement with international lenders (EU-IMF) for bailout help. Part of the agreement: Bank depositors with more than 100,000 euros ($131,000) in their accounts will take a 9.9 percent haircut. Even those with less in savings will see their accounts reduced by 6.75 percent. That’s right: Anyone with money in a Cypriot bank will have significantly less money when the banks open for business Tuesday than they did on Friday.

(source)

[inge]

Is this really a EU thing, and not a Cyprus thing?

Well, yes and no. I remember something like this back in early '90's in Italy. Italy,at the time, was trying to fit into Maastricht treaty...

[Gatekeeper]

that's an absolute disgrace, they can just decide to steal 9.9% of your money and there's nothing you can do about it.

Wow what a great offer, deposit your cash with us and we'll steal 10% of it to pay off debts made by corrupt bankers

[alir]

Sounds awful, yet another reason I only trust banks with small amounts.

It may sound stupid, but investing in a safe to store all your valuables where they cannot be touched by the government is your best bet. Just don't be cheap with the safe if you're going to store a lot in it.

[vdragon]

No sign of something like this in Hungary

[FreeMoney]

No sign of something like this in Hungary

I have no idea about Cyprus or Hungary, but in general I would think that "no warning" is exactly what one would experience right before confiscation.

[Raoul Duke]

No sign of something like this in Hungary

give it enough time...
When they see it works they will.

[KWH]

No sign of something like this in Hungary

give it enough time...
When they see it works they will.

Yes. They are already thinking up ways to get in our retirement money and people leaving high tax states are being taxed to leave.
Little money is kept in my account these days.

[phlogistonq]

Is this really a EU thing, and not a Cyprus thing?

Yes. The problem is that a lot of Russian money is parked in Cypriotic bank accounts, and the EU doesn't feel like spending a few billion Euro's to protect the savings of Russians. Hence this solution, in which the Russians are forced to help pay the debt as well.

Stealing money from actual hard-working Cypriots is considered collateral damage. Very sad indeed.
Good news for bitcoin, bad news for the poor Cypriots, for the EU and for the future of the Euro.

[Fiyasko]

*chanting* RUN ON THE BANK, RUN ON THE BANK, RUN ON THE BANK!

[inbox]

.

[zeroday]

Yes. The problem is that a lot of Russian money is parked in Cypriotic bank accounts, and the EU doesn't feel like spending a few billion Euro's to protect the savings of Russians. Hence this solution, in which the Russians are forced to help pay the debt as well.

Stealing money from actual hard-working Cypriots is considered collateral damage. Very sad indeed.
Good news for bitcoin, bad news for the poor Cypriots, for the EU and for the future of the Euro.

Perfect! You are saying that stealing money from Cypriots is bad but stealing money from Russians is not. Bingo! It means, that stealing can sometimes be good, or... probably stealing is always good if you look at it from a correct angle. Right ?

[phungus]

Boy, this is going to really piss off some Russian hackers. I wonder what the fallout will be... :-)

-p

[malevolent]

Are you a Cyprus national? I wonder if it is legal to seize funds of foreigners who don't reside in that country, don't pay taxes and don't use public infrastructure. I know that Cyprus is a tax haven for Poles, so I will watch out for their reactions.

[darkmethod]

This sounds awful.