ST Alpha - "Need to go the bank in Cyprus? Sorry, they are closed until at least Thursday now. -- (link)" (Reading a Post)

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Need to go the bank in Cyprus? Sorry, they are closed until at least Thursday now. -- (link)

Posted by ty97 Mar 18 '13, 13:46

(No message)

link (www.ft.com)

Responses:

Taxing deposits is a dick move. But given how much of that is foreign funds and the propensity to not pay your taxes in that region... - Mop (190 lbs) Mar 18, 13:47 12
- well i don't see why thats a dick move the alternative would have bees as equally bad for all - DaneDukeNuuk Mar 18, 14:09 4
  - There are a multitude of alternatives that could have been used, not least the ECB continuing to provide emergency liquidity assistance since it was - Loyola Mar 18, 14:19 3
    - well problem is when you join the ECB you give away the ability to devaluate and noone ever considdered the alternatives - DaneDukeNuuk Mar 18, 14:23 2
      - One of the largest problems afflicting the EU is the so called northern core countries moralising to the rest of Europe what's best for their - Loyola Mar 18, 14:33 1
        
        thats one the other is trying to rewrite the rulebook of economics without any general idear - DaneDukeNuuk Mar 18, 16:26
- I agree with your first sentence. -- nm - Loyola Mar 18, 13:58
- One other point is that no one would lend to Cypriot banks so there are no debtholders to take a haircut. - spamlet Mar 18, 13:51 5
  - so what is to stop the Russians from taking their deposits and going elsewhere with them after the levies? -- nm - Epiphany Mar 18, 14:00 4
    - They'll have to find another country in the EU that would look the other way. - spamlet Mar 18, 14:02 3
      - so the Russians might just say " eh, 9.9% is fair" and continue on as normal? -- nm - Epiphany Mar 18, 14:17 2
        
        It depends on their situation. That they could move the money freely in the EU is a huge benefit. - spamlet Mar 18, 14:43
        
        LOL i doubt it and i'm sure if they find somewhere where they can earn 0.2% more they'll move the money - DaneDukeNuuk Mar 18, 14:20

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