I wouldn’t recommend trying this shit in this country, for damn sure there would be cadavers in the streets.
NICOSIA, Cyprus — Cyprus’ president said Sunday that he is trying to amend a key provision of an unpopular eurozone bailout plan that would tax deposits in the country’s banks to reduce its effect on small savers.
But in a nationally televised speech, President Nicos Anastasiades also urged lawmakers to approve the tax in a vote Monday, saying it is essential to save the country from bankruptcy.
About 25 lawmakers from the communist-rooted AKEL party, the socialist EDEK and the Greens said they won’t vote for the tax in the 56-seat Cypriot parliament amid deep resentment over a move some called disastrous. If Parliament rejects the tax, that would put the entire aid package in jeopardy.
The vote was initially set for Sunday but was postponed until Monday – a national holiday in Cyprus. On Saturday frightened savers rushed to automated teller machines to withdraw as much of their cash as they could. Cypriot officials have expressed fears of a fully-fledged bank run once lenders reopen their doors on Tuesday.
The announcement of the vote postponement set off an immediate scramble among top European financial officials. One lawmaker told The Associated Press that European Central Bank was pressuring Cypriot authorities to hold the vote without delay.
“I completely share the unpleasant sentiment that this difficult and onerous decision has caused,” Anastasiades said. “That’s why I continue to give battle so that the decisions of the eurozone are amended in the next hours to limit the effect on small depositors.”
In exchange for (EURO)10 billion ($13 billion) in rescue money, creditors would impose a one-time tax of 6.75 percent on all bank deposits under (EURO)100,000 ($131,000) and 9.9 percent over that amount.
Anastasiades said savers would be compensated with bank shares. Moreover, all those depositors who opt to keep their money in Cypriot banks for at least two years would receive government bonds with a value equal to their losses. The bonds will be backed up by future revenue generated from the country’s newfound offshore gas deposits.
Are you fucking kidding me?
I am here to tell you that this would be enough to start riots in the streets here and if it doesn’t there then I have seriously misjudged ordinary people.
This is a direct result of the fuckers on Wall Street and their god damn games bundling fucked up mortgages and selling them as grade A investments to everyone and their dog.
You know, Too Big To Jail types. The gift that keeps on giving.
The whole world economy is circling the drain and has been since 2008 because of it too.
I keep hearing how the economy is picking up when this shit is happening.
It is to laugh.
OUR economy is a fucking shell game and the only reason the whole house of cards hasn’t collapsed is because Helicopter Ben has been printing money so fast the machines are wearing out.
These poor fuckers in this tiny island of a country are getting hosed as a warm up act by the IMF to see just how fucking far they can go stealing even more money.
You watch, there are going to be bank runs.
People in these other countries who are upside down economy wise and have had to be bailed out are going to be watching this shit like a hawk to see what happens next.
The really fucked up part is that shit like this is like throwing a rock in a pond.
The ripple effect just keeps going and going and going.
I am going to be paying close attention to the reaction to this outright theft of private citizens money.
I would imagine I am going to have to go to alternative media sources as usual to keep up with this, you know as well as I do you aren’t going to hear jack shit about this out of our propaganda specialists.
God forbid the public has any inkling of what the fuck is going on in the world.
One thing you can be sure of, there are going to be one hell of a bunch of seriously pissed off Cypriots come next week.