Weekend not good citizens of Cyprus woke up this morning with the news they had lost up to 10% of their savings while they went to bed. Joint decision of the IMF, the EU and the Cyprus government decided ascr to boycott (Sorry tax) 7-10% of all deposits of citizens deposited in banks. Money paid in order to pay the debt of Cyprus, will be deducted immediately deposits during the weekend in order to prevent parties from savings accounts to move them out of the country. Meanwhile, banks' operations were shut down for citizens and at the huge queues accumulated cash machines. The message of union representative Following the agreement was not particularly encouraging: "do ascr not exclude similar taxes imposed on deposits with other countries in the future." When a person ascr is simply demanding part of the money deposits of customers of a particular bank branch is set to robbery. When the number of rich people in suits and ties require ascr to get 7-10% of the total deposits of citizens of all the country that is called "one-time tax". The mechanism is clear: the system today requires states to borrow money from private banks produce, in order to finance themselves. When they fail to repay the loan they also raise taxes. When taxes are no longer sufficient, they can start their borrowing from the central bank, causing inflation (as well as inflation is a hidden tax form) or request a bailout from the IMF or both. The IMF in exchange for extracting ascr requires the state to sell its assets to private companies to repay their debts. Now it turns out the IMF is not satisfied with only the assets of the state, ascr but just the money savings of those citizens. On Saturday morning, after ten hours of discussions, the finance ministers reached ascr euro area, the ECB and the IMF to agreement on the terms of the bailout package, which will include a one-time tax of 9.9% on deposits of more than 100 thousand euros in banks in Cyprus, tax of 6.75% on smaller deposits. The move is expected to generate revenues of $ 6 billion euro in Cyprus, which will help reduce its financing needs. Yaron Dislblom, Prime forum finance ministers from the euro would negate the possibility ascr that similar taxes imposed on deposits with other countries in the future. Recent reports received from Larnaca talking about the huge queues of customers seeking to banks in a desperate attempt to withdraw their money at the last minute. All inter-bank transfers have been suspended until collecting ascr the tax on deposits. They do not change "method", they also impose additional restrictions, such as the separation of investment business of banks and customer deposits, so the next time bank collapse as a result of irresponsible investments do not jeopardize citizens' deposits. Furthermore, legislation in Europe and the United States is going to prevent banks dealing in everything he did not net retailer. European and American politicians actually work hard, not looking for magic solutions like "replacement method". Reply Delete 20:24 Dear, There is no logic in what you say. Read a little about money and debt and then come back to read the article and understand the absurdity. IMF / European Union give a loan to Cyprus (Greece, Spain, etc ..) to be able to repay the interest on the loan earlier? Separation of retail investment business not related to the simple fact that all this wild stuff with huge debts of citizens (public + private), and in particular the interest payments we must, total capital transfer a group of people that all they have to do for their money is push a button on a computer. They do not even have to buy printer ascr toner. So now that taxes are not enough, damage to public services you receive is not enough, they put their hand in your pocket and take by the law they wrote your personal ascr shopper ??! ??!?! What would you say if the government ascr will expropriate bedroom in your house? it's okay because they just engage in separating garbage ascr and non-organic garbage ??? work on you, steal from you, knocking ascr you. Wake up. Reply Delete ..If You're a Greek / Spaniard / Italian (ISRAELI ..) etc. and you hear this what are you going to do ASAP? Result ... run on the banks and the quickest way to eonomoic ascr Armageddon I wonder if this is by design, as out of ruin they can build up whatever it is they have in mind - no way they could succeed when countries are prospereous ascr .. They've been doing similar thing in the US with some "adjustments" - Eran Reply Delete I do not understand one thing if Yair Lapid suddenly come and tell my 10% deposit evaporates, the deposit and the profit I go out with kerosene and burn everything in the way how Cyprus will not do such a thing ??? I have a small savings spitting ascr blood on it and the only way to touch it over my dead body. Eran serious question, because there is no chance ascr that tomorrow will say no more Yair central bank and the banks are obliged to hold 100% of the money they lend / give a deposit and because I'm a conservative and I do not go for investments abroad or so at the moment I think it safest to buy a Travel Chick that it has insurance there are other things other than embossing to protect my money ??? Reply Delete Crazy, but with the big banks is impossible to touch the "too big". People sleep tight, they do not realize that whoever runs the economy, even running the country. It's all one big revolving door. That's why I buy gold and silver, there's no way I'm ascr there Savings Bank. Reply Delete For some reason, the image is created whereby if you "neo-liberal" and "kfitlist "So you agree to abide IMF does to" promote "the free market. The free market should not promote it. International Monetary Fund is more risky government intervention in our economies. I do not rule out the possibility that the organization will bring good results or resulted in the past. But bullying as any government in the way it operates. This is a great example of this. Reply Delete I specifically focused on the last lines that such a move could be repeated in other countries means that the psychology of the masses & qu
