"Dick van Turpin" raids Cypriot Residents Savings. Is it Legal ?

A cash grab from anyones Private Bank accounts seems beyond belief .

For all the red tape in Europe and OUR RIGHTS under EC law how can this Money Grab  be legal.?

Should citizens of Cyprus go to the Europoean Court of Human rights and protest?

Is it legal to reduce people's wages, extend their hours and make them work longer before they can claim their pensions, like they've done in Spain?  

Basically they can do whatever they like because they hold all the power.  The needs of the banking sector come first, and the rest of us have to suffer the consequences.

 Is this not similar to what would happen in the uk if the government had not bailed out the banks.  If Lloyds had gone under the government would have guaranteed the first £50,000 (i think that was the limit then) and rthe rest would have been lost.  What the Cypriot government is doing is effectively guaranteeing the first x amount and then reducing the remainder by 20%.  This is not that different to what would have happened in the uk (or even what could still happen) if the banks went bust.

It's legal get over it.

Rossetti

Is it legal to reduce people's wages, extend their hours and make them work longer before they can claim their pensions, like they've done in Spain?

Done this in the UK so it must be legal, after all England wont do one dam thing wrong to upset the EU.

Basically whats happened is because Cyprus has made a mess of things with their finances, and the general public haven't, because they saved.....We want it....Sounds fair to me.

The best is to yet to come out, whatever the percentage of the claw back is, who tells the Russian boys and the Kremlin they are to lose 20% or perhaps 40% of their..Um hard earned savings.

Nigel Farage, the UKIP leader has said "If you have savings in a Spanish bank, get it out now".

ROSSETTI SAID

"It's legal get over it."

"Stand and Deliver Rossetti".. said Dick T and give ME 20% of your hard earned savings,....OK no probs, its legal said Rossetti.

Ive retired to Cyprus and rely on interest from my savings "said the thousands of retired ex pats" . Its Legal Get Over it ! said citizens advice

It's legal get over it.

Rossetti

If it's legal then are we to presume then that because every country in the EU is up the creek without a paddle, in one way or the other, that when Cyprus gets away with it, every other crooked bank and government will do the same......Once one gets away with it of course. 

Mind you....You might have said that tongue in cheek so to speak.

nigela

What the Cypriot government is doing is effectively guaranteeing the first x amount and then reducing the remainder by 20%.  This is not that different to what would have happened in the uk (or even what could still happen) if the banks went bust.

You can't compare Cyprus and the UK.  If a British bank had've gone bust, the UK government could have guaranteed all savings by printing money worst case scenario.  Cyprus, and none of the other eurozone countries can print euros.

since most of the members are from the UK or rely on UK income; you may not have noticed but your government have taken about 25% by printing money and intend to keep doing so.

Just another way of taxing your savings. At least ECB and IMF have been upfront.

Rossetti

Rossetti said

(since most of the members are from the UK or rely on UK income; you may not have noticed but your government have taken about 25% by printing money and intend to keep doing so.

Just another way of taxing your savings. At least ECB and IMF have been upfront.)

So .If you had £xxxxxx in the bank in savings......... How is "Quantatative Easing" going to effect your savings and reduce them by 25% as you suggest.      

since most of the members are from the UK or rely on UK income; you may not have noticed but your government have taken about 25% by printing money and intend to keep doing so.

Just another way of taxing your savings. At least ECB and IMF have been upfront.

Rossetti

No it was much more then 25%, more like in some cases 50%, what this government and others never mentioned was the dramatic effect it would have on peoples pensions and lives when they printed extra money. Which they have admitted done more harm then good now the effects have come to light.

No government or bank is upfront with anything, the only thing that is upfront from them is what they want you to know.

Could even be said they didn't know the effect it would have on the economy,  because most of the government people haven't a clue as to how money works....and that even goes for the governor of the bank of England, who said only recently that the recession is coming to an end...then a week later said the recession will last for years to come yet.

That has been proved time and time again by the simple thing of raising taxes,  then wondering why people don't spend,  then wondering again why the government tax income has gone down....so put up taxes again. 

Ten pound buys ten pounds worth of goods. The government prints additional money so that you now have 11 pound instaed of ten , but the 11 still only buys what the ten did . I.E Divide ten by eleven & you get  0.9. The government has reduced your money by 10%. That is quantative easing.

At least ECB and IMF have been upfront....

That's the funniest thing I've read today. If anyone really believes this, they are totally missing the picture and living in the land of cuckoo. Surely this has to be taken tongue in cheek... 

The problem here isn't just the ECB and the IMF it's also the politicans they managed to position around the member states to control there "empire". After this fiasco in Cyprus who knows where Europe is heading but what seems to be clear is that anything goes when it comes to the crunch. When the EU received the nobel peace prize, I was in hysterics, now it is just plain embarrassing, the EU is no better than the non-democratic countries they criticise on a daily basis. Europe may not be a zoo where it's tenants are locked up in cages but it is no different to a Safari Park where everyone is wondering around believing they are free and slowly being brainwashed by the park managers that if you don't eat their food you won't eat full stop and if you leave the park you will die a certain death. Cyprus was held with a gun to its head.

At the end of the day what does "legal" mean now? With so many intentional loop holes in the "law", the illegal can be done legally whenever they want.

Capital control on the border, in airports, boats and buses etc impeding anyone from removing cash from the island isn't very democratic is it.  So basically the message the EU is sending out is that they can take your money when they want to, it's only yours until they need it and when that time comes they will take it "legally".  It doesn't matter how it has been disguised, its all a part of their model to control every country from behind closed doors. 

Is there anywhere in the world where you can safely keep your already taxed money without having it stolen??  maybe Rossetti is right, we may have to admit that "freedom" and "democracy" are impossible in a global economy managed by just a few non-elected authorities and we should just

"get over it"......  especially when member Goverments aren't prepared to make a stand.

post deleted... someone beat me to it on a different thread...!

fb

Maybe putting money and savings into "bricks and mortar" ( property) will come back into fashion ? 

But not in Spain... or not at the moment anyway!