Euro Area

**InsaneApache** · 03-17-2013, 14:26

The thing is this sets a precedent. How long before other governments, under orders from Bruxelles, start to pinch people money from their banks? This is why I dislike the EU. Accountable to no one. Can't be sacked.

Any Euro fans like to defend this latest outrage?

A comment from a Telegraph article on this sums it up.

A 'tax' which discriminates only against a certain portion of the population (those who have deposits) without good reason (why should just depositors pay - they will include ordinary people with small life savings in a deposit account for instance) is not a tax at all; it is outright theft.

**Andres** · 03-17-2013, 14:43

Originally Posted by InsaneApache

The thing is this sets a precedent. How long before other governments, under orders from Bruxelles, start to pinch people money from their banks? This is why I dislike the EU. Accountable to no one. Can't be sacked.

Why doesn't the Cypriotic government show its' middlefinger to the so-called troïka?

Argentina showed its' middlefinger to the IMF and, apparently, they came through their collapse of their banking system much better than Greece does nowadays.

**InsaneApache** · 03-17-2013, 14:54

Well if they carry on like this there will be unrest, perhaps even civil disorder. If that happens the EU peace prize is going to look very hollow indeed.

I've just read that initially they wanted to ~~confiscate~~ steal 40% of the savings, Now that would have started a revolution never mind a riot.

**Andres** · 03-17-2013, 15:08

Originally Posted by InsaneApache

Well if they carry on like this there will be unrest, perhaps even civil disorder. If that happens the EU peace prize is going to look very hollow indeed.

I'm afraid we're only seeing the beginning of our downfall.

I've just read that initially they wanted to ~~confiscate~~ steal 40% of the savings, Now that would have started a revolution never mind a riot.

If we let them get away with stealing 10 % of the Cypriotic people, then maybe next time, they'll simply take everything.

**Vladimir** · 03-17-2013, 16:51

I recently spoke with a car salesman from Cork the other day and he impressed upon me that Ireland was

for the next 100 years. It seems the most sensible option was to hit the reset button even if 100% of savings were lost. The quick suffering for a decade not being as bad as a slow suffering for ten.

He seemed amused at the thought that the Germans couldn't conquer Europe with their military and that they're trying to do so with their banks.

**gaelic cowboy** · 03-17-2013, 20:12

This austerity rubbish will not fix our banks unless they start some proper write offs our problems will continue.

Originally Posted by InsaneApache

The thing is this sets a precedent. How long before other governments, under orders from Bruxelles, start to pinch people money from their banks? This is why I dislike the EU. Accountable to no one. Can't be sacked.

Any Euro fans like to defend this latest outrage?

A comment from a Telegraph article on this sums it up.

It's such a laugh you need to increase capital in banks so you steal savers money, it'll encourage people to remove all there deposits just in case they go looking for another 10%.

If people take out there money there gonna need more capital and potentially another bailout.

Plus they have breached a principle in that people's money is now not safer in banks, this could have a ripple through the whole EU banking system.

**HopAlongBunny** · 03-17-2013, 21:00

It certainly does not seem designed to instil confidence in the banking system; but most confidence games are about getting hold of other peoples money...