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Author Topic: Cyprus: 30% haircut, paupers walk off unharmed  (Read 1221 times)
mai77
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March 25, 2013, 11:41:47 AM
 #1

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.


The crisis was precipitated by those very same fu**s, however.  Shocked
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WishIStartedSooner
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March 25, 2013, 11:44:55 AM
 #2

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.


The crisis was precipitated by those very same fu**s, however.  Shocked

Rich people civil war!
theta
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March 25, 2013, 01:15:33 PM
 #3

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.


The crisis was precipitated by those very same fu**s, however.  Shocked

Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance.

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mai77
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March 25, 2013, 01:34:16 PM
 #4


yeah, except they almost weren't insured. It does not make much difference today whether a politician steals 20'000€ from you or not.

lucky you, if your MP did not steal 20'000€ from your wallet by now.
nwbitcoin
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March 25, 2013, 01:40:24 PM
 #5

There are many ways to look at what happened here.

How about, the banks were declared bankrupt, and the EU insured the accounts of those with less than €100K?

Anyone with any knowledge of the EU banking rules would have made sure they put their money into multiple accounts with less that the max amount in each ages ago.

Not a bad deal over all?

When politicians get involved in anything that looks like business, strange things happen!

Wink

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mai77
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March 25, 2013, 02:18:38 PM
 #6

The Russians are fuming over the confiscations of their Cyprus accounts.

Russia's PM Medvedev said:

" The theft in Cyprus is comparable only to confiscations of wealth of jews by Adolf Hitler's helpers "

quite true actually. Undecided
niko
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March 25, 2013, 03:02:15 PM
 #7

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.


The crisis was precipitated by those very same fu**s, however.  Shocked

Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance.
Is portion over 100k taxed, or the whole amount if over 100k?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
lebing
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March 25, 2013, 03:52:07 PM
 #8

The Russians are fuming over the confiscations of their Cyprus accounts.

Russia's PM Medvedev said:

" The theft in Cyprus is comparable only to confiscations of wealth of jews by Adolf Hitler's helpers "

quite true actually. Undecided

Not really. The jews had their money taken from the bank in a country in which they were a citizen. The russian oligarchs all moved their money offshore - there is always a risk doing so and they should know that.

Bro, do you even blockchain?
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theta
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March 25, 2013, 04:25:09 PM
 #9

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.


The crisis was precipitated by those very same fu**s, however.  Shocked

Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance.
Is portion over 100k taxed, or the whole amount if over 100k?

30% of amount > 100k. If you have 100k, tax is zero, if you have 110k, tax is 3k, if you have 1.1m, tax is 300k.

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