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Eurozone Country: Surprise!We're putting at least 6.75% tax on your bank deposits
People with bank accounts in Cyprus were shocked Saturday to learn that as part of an agreement reached with international creditors, the government has imposed a tax on all deposits to help bail out the nation and its banks.
While the island nation may be small, it’s an international favorite for offshore banking– particularly for wealthy Russians. The tax will range from 6.75% to 9.9%, depending on how much is in the account.
“This is a clear-cut robbery,” Andreas Moyseos, a former electrician who is now a pensioner in Nicosia, told the New York Times. Iliana Andreadakis, a book critic, further added: “This issue doesn’t only affect the people’s deposits, but also the prospect of the Cyprus economy. The E.U. has diminished its credibility.
Read more- http://www.theblaze.com/stories/2013...-bank-account/
Four words came to mind when I read this article:
Mutually
Assured
Economic
Destruction
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Re: Eurozone Country: Surprise!We're putting at least 6.75% tax on your bank deposits
So they are taxing money that was probably already taxed?
I bet there's going to be alot stuffed underwear drawers in Cyprus. Great to time to be a burgler.
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Re: Eurozone Country: Surprise!We're putting at least 6.75% tax on your bank deposits
SHHH! Don't give this administration any more "bright" ideas...
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Re: Eurozone Country: Surprise!We're putting at least 6.75% tax on your bank deposits
It will tank the economy and cause a run on the banks on Wednesday. Hopefully, it does not spread to Italy and Spain. Then it is only a matter of time before France robs its savers which makes for a political debate in this country.
I think there would be real shots fired if it were to happen in the U.S..
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