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BFCSA: CYPRUS wally pollie's cause run on its own banks

Posted by on in Corruption Exposed
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I don't think your logic is very sound Haddock.  I'm no financial genius but my first thoughts were that this would cause a run on other financial institutions in vulnerable European countries and blow me down here it is on the front page of today's Australian ......"As analysts warned that Cyprus's proposed levy on bank accounts could lead to bank runs in fragile eurozone economies such as Greece and Spain ........" ?

 

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  • doyla66
    doyla66 Tuesday, 19 March 2013

    Cats like to eat Haddock for Breakfast, don't they?

  • doyla66
    doyla66 Tuesday, 19 March 2013

    Ordinary people do extraordinary things to protect their possessions and family,even if it is to the detriment of others.Just for the record Australians are doing the same,just quietly,I'd say there is more money,under mattresses and in biscuit tins,than anywhere else in this country and it started back when the GFC hit.

  • doyla66
    doyla66 Tuesday, 19 March 2013

    "Rejection of Deposit Tax Scuttles Deal on Bailout for Cyprus" is a headline in the NY Times this morning. There's also 2 pgs of comments . . . whew.
    The link: http://www.nytimes.com/2013/03/20/business/global/cyprus-rejects-tax-on-bank-deposits.html?hp&_r=0

    "NICOSIA — The Cypriot Parliament on Tuesday overwhelmingly repudiated a €10 billion international bailout package that would have set an extraordinary precedent by taxing ordinary depositors to pay part of the bill. "

  • doyla66
    doyla66 Friday, 22 March 2013

    I didn't say it was a good idea from a stability perspective - blind freddy could tell you that - my point was that if they were forced to take a haircut then the way in which it was being done was not unreasonable. I was also clarifying the perception that this was in some way assisting bankers. I view bankers as employees and or shareholders of banks and they were well and truly getting wiped out ahead of the deposit holders as they rightly should. The deposit tax was simply an alternative to a different tax base which would the whole Cypriot population.

    You guys have to stop assuming that I mean what you would like me to mean and start reading my actual comments.

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