The international bankers take their 10% from private bank accounts... (election, elect, money)

[Chango]

This is really a shocking thing to me, even though it's in Cyprus (still and EU member though):

Cyprus works on tax levy deal to get bailout approved | Reuters

What kind of world is it where International Bankers can forcibly take up to 10% of a private citizen's savings as a "tax" to pay for government bailouts?

There are worries of this sparking banks runs all across the EU when the banks open for business again, and yes the dreaded "bank holiday" was declared for Monday to forestall the inevitable fallout. How long before it's our turn.

[monkeywrenching]

I have $75 in my bank account, I keep all the rest of my cash at home, including all gold and silver. I dont have a bank deposit box, and have no need for a mortgage. the only reason I have a bank account is because my work requires one for automatic deposit for paychecks. I then take everything out but $75 every 2 weeks.

any bills I have I pay for with money orders or up front with cash.

[Kenneth-Kaunda]

why don't the Cypriots just tell them to shove it?

is this corporatism gone mad?

[Crossfire600]

Originally Posted by Kenneth-Kaunda

why don't the Cypriots just tell them to shove it?

is this corporatism gone mad?

They owed to much so the EU automatically takes it out of their bank accounts. Just like it could be here. The only reason we are not like the EU is that we can print money anytime we want.

[malamute]

The sooner globalism collapses the better and the world can get back to doing things smarter.

[Kenneth-Kaunda]

the way I see it, this is a deal between the Cypriot govt and the EU for a bailout, but the people must pay whether they like it or not, right?

[cleanbrain]

Originally Posted by Kenneth-Kaunda

the way I see it, this is a deal between the Cypriot govt and the EU for a bailout, but the people must pay whether they like it or not, right?

Yes. And that were Germans who pushed Brussels to impose the condition.

[Think4Yourself]

Yep, Merkal was the one pushing that condition on to Cyprus largely because she's up for reelection next year and the German public is very unhappy about having to bailout weaker EU member states.

[Kenneth-Kaunda]

so why doesn't Cyprus just bail out of the EU?

what's in it for them anyway?

[Think4Yourself]

Being part of the Euro Zone meant they could borrow money at the same rate as Germany or the other big players instead of at the rate of 4th tier poor little island with no real industry other than tourism and selling very limited amounts of wine. Of course, the cheap and easy borrowing is why so many southern European countries got into trouble to begin with.