New Cyprus plan - Upto 25% from SOME accounts
 

I wonder who will be hit - That's a big chunk of change for some of the sponsors here...

Better not be accounts belonging to guys like these or heads will literally roll:

http://i968.photobucket.com/albums/a.../russian-1.jpg

:2 cents:

The phrase "money in motion" could never be used better than for this mess.

This country is very luky to have all these businesses, I would be very very surprise if they would do something to them. The 10% to 12.5% tax they spoke about was reasonable, I think it shows that they care about the businesses. And I hope I'm right lol.

There about 20+ banks not sure which one's are about to go down

Quite the contrary - it shows they DON'T care about that business. All those foreign billions would be moved out of the country the minute the banks reopened up again.

I read the other day that they are have passed (or thinking about passing) capital controls to make sure this cant happen before the money is taken. I could be wrong.

Alright - they do that, take thier x% money, and then what? There's still a run on the banks, billions and billions get transfered out immediately and no one wants to keep any money there. Even the rich cypriots will move all their company and personal accounts offshore.

The top 2 banks.

The most affected ones are the Russians. Their companies have billions in Cyprus banks and they apply strong pressure onto their government to forget that tax. They also gave Cyprus a credit line of 3 billion euros which is being reviewed now.

Do the capital controls expire once the tax is taken?

Why should the EU bail out banks built on corruption and incompetence?

They have to expire eventually. Even if people can't move all the money immediately, then they will still move it out over time - and cyprus is done as a banking center for the foreseeable future.

the banking sector there is fuckeddddddddd

Makes you wonder if they did that shit on purpose...there are gonna be people moving money out of any country in the EU that's being hit hard by recession to safer shores, which will only deepen the issue.

I see a lot of opportunities. Money on a bank is never good. Money needs to be spent. I think it could give an extra impule inupcoming countries in South America. You already see the Chinese investing a lot here, cause they pulled a lot of money out of the USA.

I have seen here great building projects here Brazil and land that has been become more worth 2,3,4,5 times more in just 5 - 7 years. And sometimes even faster.

Yep Brazil is booming but it will crash in a few years once everything becomes too expensive for the normal people to afford. It´s like Spain 10 years ago, the european money than poured in mainly from German and French banks looking to cash in on property. House prices more than doubled in 3-4 years and normal people couldn´t afford to get a house, so the banks started lending 5 times salary.. and we all know how well that ended up.

25% isnt a bad tax rate.

You always must step out before it collapses or growing less than it has done. I know people who didn't want to invest 10 years ago, cause it was rising very hard at that time also. Now they regret that they didn't invest. Also you can look at locations that are still developping and where prices are reasonable. More Brazilian people have money for holidays and go to the coast, and there are still opportunities. In Rio it is still crazy, prices of houses can double in 1 year or 6 months. But will it collapse, or will it be like in London where foreign people keep buying property? (in Holland/Amsterdam it collapsed).

I think in Brazil it will go on for some more years. More people are getting in the middle class (40 million people went from poor to middle class standars) and want to get of the poor neighbourhoods. And Brazil is lucky; they have gas, oil, agriculture, minerals and long beaches.

Investing is always a risk, look for shorter term investments (2 - 7 years). You also don't want a "Chavez" getting in control here, that could happen also. But puttingyou money on a European bank is also getting more risky. And buying property in most parts of Europe is stupid now.

This doesn't end well for Cyprus banks no matter what they do. I'd guess a run on the banks is inevitable at this point. Why would anyone keep money there after this?

Fuckers want to limit wire transfers to 10k max.

I'm sure its a EU's backstage way to fuck with Russians.

Yep it´s all about the exit strategy. In Southern Spain for a while , you could put down a $5k deposit on a house that wasn't built yet, so you didn't need to pay the rest for about 18 months. By the time you had to pay the rest of the money, the value of the house had nearly doubled. You flipped the house before you had to pay for it and banked the profit... however when the market died overnight, people got fucked.. now in a way good because it was them pushing house prices up, but still some people got fucked hard. forced to buy a house at twice it´s current value, with no hope of selling it. You were lucky if the developer building it went bust that way they only kept your deposit.


Not the UK.

Geeezes. The EU doesn't have to do shit - the Cyprus issue was pure stupidity + spite + upcoming elections in Germany. The bailout was tiny (20 billion) compared to the Greek one (400 billion), yet instead of making it a routine operation, the issue was messed up big time.

If the EU was so badly concerned about its last tax haven (Cyprus) and their quite lax banking, they could have easily applied enough pressure to make the necessary legal changes.

This is where this is heading - "haircut" on the big deposits, which means very unhappy Russians and all its short and long term implications PLUS some (hopefully not too many) jumpy investors who would think twice before depositing large amounts of money in any EU bank.

So whats the next country up as the money haven.

Look at the bright side guys, JJ from SOBV will lose some of that money he stole from you all.

It is when the money you have in the bank has already been taxed by vat and income tax...

They ought to keep it all and make people prove they have paid any taxes due on it in their home county before they get one dime. Call me a dick for it but I'm glad some of the scumbags in our industry are losing money over this. I only feel for the honest people losing out.

The EU pissing off the Russians is NOT a good idea, I could see some european countries freezing in the not to distant future :2 cents:

I'd be concerned that the EU is using Cyprus as a test case for these type of conditions for future bailouts, I'd be particularly concerned if I had money in Greece, Italy, Spain, Portugal, Ireland.

Congrats to the winners!

But nobody does that in Cyprus. Thats why people have the money there.

They changed idea again, now 20% from the bigger bank, 4% from other banks:

http://news.sky.com/story/1068912/cy...-bank-deposits

20% tax on savers with deposits over 100,000 euros at the country's largest bank, the Bank of Cyprus. A 4% tax on deposits over 100,000 euros would be levied at other banks (the bank of russians?).

Too many new Cyprus threads. Let's stick to the one related to affiliates not paying:
https://gfy.com/showthread.php?p=19542397

So that when they now take a flat 8% from everyone people are relieved they didn't lose more and accept it.

i hope the guys as "PussyCash" will stay out of that stupid or relative smart politics for someone alse there in Кипар/Cyprus and i really hope you dont use that much of their banks , if someone have problems like that , from very own experiance move the money two countries to the north until is too late , directly north of the border of Greece , there the banks have very low fees and the standart its lower than Кипар/Cyprus (almost double) and their politic system isnt in that kind of transition , their banks are in search companies like them , becouse the country is "young" and washing some cash is welcome there!from illegal they make it all legit !
100% recomended ! contact me for some info if someone really need!

Salut.

We have to pay you now?

I knew this day would come.....

no dude , you are missunderstanding few things,
so , he just have an complex of taking control and usually loosing the same,
being dominative human becouse of that auto suggestive trick from the last loosed moment,
so we better focus only on the dominative dude who cant focus on more than one thread with the same topic becouse of the mentioned symptoms before :1orglaugh:1orglaugh

just joking , giving little colour in these gray days there cuz i was there once and only once !!!!!!! but i wrote the solution before , dont histate to contact me , or just post some boobs and i will come asap! :upsidedow

Salut :pimp

I have come to the conclusion that you are even more pissed than me - Congrats!

nope , just faster maybe :thumbsup

Whatever the Cyprus thread is bumped or newly created (sorry for suggesting to keep talking in one only, feel free to open hundred more), what really will happen should be known in 24-48 hours, and probably again different from the dozen proposals told until now.

The most interesting piece I've read until now: Cyprus agreed to break up Laiki (2nd largest bank) into good bank/bad bank structure, imposing "40% or more" losses on the uninsured depositors (those over 100,000 euros). In other words Laiki will close, fire all employees (they're striking due to that), and eat 90% of money over 100,000th euro in each account, I woudl bet (if announce 40%+...). Remaining 10% is not available... will be frozen for years, they've set already 100 eur a day maximum, this mean $10,000 every 100 days.

http://www.telegraph.co.uk/finance/9...-on-banks.html
Savers at the Laiki bank and Bank of Cyprus will be hit by new cash limits of €100 and €120 a day respectively on Monday, at midday GMT, in a measure aimed at stopping a run on the country's banks.

lol...there won't be any money for a NEW TAX HAVEN

there are rumours Cyprus will go out of the EU and have an agreement with Russia.
The new name of Cyprus will be Cyprussia

2 AM GMT+1: Eurozone finance ministers approve deal. President Anastasiades of Cyprus: "We have a deal that's in the interests of the Cypriot people and the EU."
??

Most recent new I just found.

http://www.bloomberg.com/news/2013-0...euro-exit.html

So 40% haircut for bank of cyprus and winding down Popular Bank of Cyprus, also known as Laiki :321GFY

either way there will be a run on the banks. :2 cents:

Anyone legitimately know anything about the process of recovering lost assets of a bank going into bankrupcy as in Popular Bank? The finance minister said something like 'several years to get back 30% - 60%' back, something like that.