My bank account's got robbed by European Commission. Over 700k is lost.

[gadsdengraphics]

This screenshot just popped up on a gun forum I frequent - http://www.ar15.com/forums/t_1_5/1462284_.html&page=4&anc=39532832#i39532832.

That forum has already been talking about BTC, but maybe your plight will expose more people to the benefits of the currency.

[freedomno1]

I'm with you guys on this one
What the EU is doing is a violation of sorts taking money out of peoples bank accounts to fund the debts of those who borrowed doesn't seem right.
Can see the lawsuit succeeding
Its giving money to people for doing a bad job.
In economic terms taking from savers and giving to borrowers money that shouldn't be taken in the first place as it was saved to pay for someone else's problems.
And I still don't find it right that banks are using someone else's money to pay for their problems.
They are holding your assets they are bank liabilities not bank assets so they can't just say a liability money owed to you in deposit is really an asset to them.
Best of luck hope Europe find's another way to solve its problem's maybe real asset development as we know that government and inflation through monetary policy does not tackle inflation but real growth through physical goods and services is what causes the economy to grow. Not printing more money.

[XMLGold]

This is the end of Cyprus...

[edmundedgar]

I'm working with my lawyers now and they told me we have chances to win.

Please don't tell us these are the same people who told you your money was safe in Laiki...

[zeroday]

I'm working with my lawyers now and they told me we have chances to win.

Please don't tell us these are the same people who told you your money was safe in Laiki...

No. It is absolutely different law company specializing in cases against banks.

[enquirer]

Yes, it's pure logic, because:
 - Unlike Cyprus, small Caribbean country is not a part of "global corporation" like EU.
 - Their primary interest is to attract investors and to prove that their money is safe.
 - Unlike many of EU countries, they don't have huge national debts.
 - They don't tax you for foreign income.

That might be correct, except the EU is not to blame. EU GAVE them money, not TOOK their money. Everyone knew for over a year now that banks are insolvent because of the failed Greek bonds speculation: http://www.nytimes.com/2012/04/12/business/global/in-cyprus-a-national-quest-to-shore-up-teetering-banks.html?pagewanted=all&_r=0

[myrkul]

Yes, it's pure logic, because:
 - Unlike Cyprus, small Caribbean country is not a part of "global corporation" like EU.
 - Their primary interest is to attract investors and to prove that their money is safe.
 - Unlike many of EU countries, they don't have huge national debts.
 - They don't tax you for foreign income.

That might be correct, except the EU is not to blame. EU GAVE them money, not TOOK their money. Everyone knew for over a year now that banks are insolvent because of the failed Greek bonds speculation: http://www.nytimes.com/2012/04/12/business/global/in-cyprus-a-national-quest-to-shore-up-teetering-banks.html?pagewanted=all&_r=0

It was The ECB that placed the requirement of draining the bank accounts, yes?

Not saying Cyprus is innocent, nor the banks. But if someone orders a murder, you arrest the hitman, AND the guy who hired him.

Honestly, the only people who aren't to blame here are the people whose money all evaporated overnight. You can hardly blame the guy for banking in the country he does business in.

[killerstorm]

Not saying Cyprus is innocent, nor the banks. But if someone orders a murder, you arrest the hitman, AND the guy who hired him.

If you had a wound and waited until your leg is gangrenous, will you blame surgeon when you lose your leg?

Your leg was lost before surgeon cut it. Surgeon just makes sure that you do not die due to infection. Being without a leg surely sucks, but sepsis is worse.

Really, Cyprus was free to not accept the deal and go through process of liquidation...

[myrkul]

Not saying Cyprus is innocent, nor the banks. But if someone orders a murder, you arrest the hitman, AND the guy who hired him.

If you had a wound and waited until your leg is gangrenous, will you blame surgeon when you lose your leg?

I certainly would if he took the wrong leg. It's not the depositors' fault that their banks made stupid decisions. It's not the depositors' fault that the morons running the country decided to save the banks from the consequences of their actions. It's not the depositors' fault, but the ECB decided that they should pay. That's fucked up. The bank officers, from the top all the way down to the branch managers, should be penniless in the streets before a single cent of the banks' customers' money was touched.

[zeroday]

Deposits below €100,000 will be shifted from Laiki to the Bank of Cyprus to create a “good bank.” Deposits larger than €100,000, which are not guaranteed under EU law, will be frozen and used to resolve debts.

killerstorm, do you think this solution is fair? Is it OK when assets of successful people and businesses are seized to pay county's debt and cover "insured" accounts?

They took 700K from my account, killing my business, to repay their debts and fulfill insurance liabilities! I can't believe it is happening in Europe! It's more likely North Korean scenario!


BTW,

A company owned by in-laws of Cypriot President Nicos Anastasiades wired €21 million from Laiki Bank to London days before the Eurogroup’s crisis-triggering levy proposal, claims a Cypriot newspaper.

SOURCE

[cho]

I hope the court case can bring justice to you and the others, and I hope it will be FAST.
It seems quite obvious some basic law rules have been breached.
Keep us informed if you can ! Thx

[alexeft]

They took 700K from my account, killing my business, to repay their debts and fulfill insurance liabilities! I can't believe it is happening in Europe! It's more likely North Korean scenario!

There is a joke going around in Greece these days. It goes: thank god communism didn't come to take our money, capitalism did!!!
 

[myrkul]

They took 700K from my account, killing my business, to repay their debts and fulfill insurance liabilities! I can't believe it is happening in Europe! It's more likely North Korean scenario!

There is a joke going around in Greece these days. It goes: thank god communism didn't come to take our money, capitalism did!!!
 

Whatever you call this BS in the EU, it sure as shit ain't capitalism.

[blockbet.net]

Whatever you call this BS in the EU, it sure as shit ain't capitalism.

Actually the bankers and politicians who are most benefiting from the situation are excercising capitalism in it's purest form.

I'm sorry to hear about the OP but I agree with some of the other posts in this thread: Blame Cyprus, not the EU.

[talnted]

Just read majority of this thread.  This is unreal. Im sorry for your loss

[zeroday]

I'm sorry to hear about the OP but I agree with some of the other posts in this thread: Blame Cyprus, not the EU.

Cyprus is EU. European Commission forced it to follow their "recommendations" to rob depositors.

[wachtwoord]

They took 700K from my account, killing my business, to repay their debts and fulfill insurance liabilities! I can't believe it is happening in Europe! It's more likely North Korean scenario!

There is a joke going around in Greece these days. It goes: thank god communism didn't come to take our money, capitalism did!!!
 

Whatever you call this BS in the EU, it sure as shit ain't capitalism.

Socialism gone wild.

[myrkul]

Whatever you call this BS in the EU, it sure as shit ain't capitalism.

Actually the bankers and politicians who are most benefiting from the situation are excercising capitalism in it's purest form.

Free, voluntary trade? No, that doesn't match up.

[cho]

I'm sorry to hear about the OP but I agree with some of the other posts in this thread: Blame Cyprus, not the EU.

How much other countries "bail-ining" their banks will you have to blame in the future ? Few countries are safe, if any.

[Nachtwind]

-not reading the 14 pages of discussion-

Its your own fault. It was forseeable (here in europe) that this would come some day. Adolf Merkel was ensuring this way too often.
So instead of hoarding your money in that forsaken place, which was known to be bankrupt for how long? 3mo+? I think some cypriot friends of mine were mentioning this already like half a year ago, you could have moved your money to any other bank in the whole world.

Also you wont loose all the blocked money, you will loose some percentage of that.. thinking about it - how much did you gain from interest in the past years?

Also, dont blame all the European idea.. you might have only lost 6.6% a few weeks ago, but whose government did vote against that solution? It was not the european parliament..