Cyprus steals 10% of all depositors money, trigger bank runs.

[Denny]

Nice!

[Forever_frost]

Cyprus Finance Minister Michalis Sarris said today that depositers at Cyprus Popular Bank PCL could face losses of as much as 80% on their deposits.
FOX Business reported:

Cyprus’s finance minister said Tuesday that large deposit holders at Cyprus Popular Bank PCL (CPB.CP), the island’s second biggest lender, could face losses of as much as 80% on their deposits as the government moves to wind down its operations.

Speaking in a television interview with state broadcaster RIC, Michalis Sarris indicated that it could also take years before those depositors see any of their money returned.

“Realistically, very little will be returned,” Mr. Sarris said.

Asked if, like in other bank closures, it could take six to seven years before depositors get back there money, he said: “maybe yes. And the amount [returned], could be 20%. Certainly, for depositors above 100,000 euros it could be a very significant blow.”

http://www.thegatewaypundit.com/2013/03/cyprus-finance-minister-depositors-could-face-80-loss-in-savings/

[Denny]

Ffffffffffffffffuck me!

[Forever_frost]

Cyprus is done and so is the entire EU

[Hmbre97]

So if they take all the money from the rich and the rich leave the country, who are they going to get to drive all the trains?

[Bassics]

Some of this looks like a rift between the Russians and the Germans. Since the Germans "insure" the Euro, they see it as them insuring $30 billion in Russian euro's with no return or benefit. It wasn't that long ago that half of Germany was "occupied" by the likes of Putin, and I think they see it as payback time.

Merkel is a product of the old Berlin political machine.

[futant]

So if they take all the money from the rich and the rich leave the country, who are they going to get to drive all the trains?

[Snatch Napkin]

So if they take all the money from the rich and the rich leave the country, who are they going to get to drive all the trains?

Hot diggity damn! That's funny shit!