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EU Tax Starts Bank Run in Cyprus

Discussion in 'BlackHat Lounge' started by ADHD-Dude, Mar 18, 2013.

  1. ADHD-Dude

    ADHD-Dude Power Member

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    EU Tax Starts Bank Run and Sets Precedent
    EU says that this TAX is just one time deal, I don't think so.

    EU attacked Freedom of the press in January, now they confiscated money without a trial.

    A bank account is the private property of a citizen or a corporation and does not belong to the government or at least that was the supposition up until now in Europe.
     
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  2. ddarkos

    ddarkos Junior Member

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    Ok, but the governament still can adopt a taxation law...thay can tax a deposit...this is not a problem. Cyprus is not more a safe offshore company
     
  3. NLhead38

    NLhead38 Jr. VIP Jr. VIP Premium Member

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    Apparently there were a lot of russian account holders with laundred money on the accounts. These are now getting hit. Cyprus allowed these kind of account holders, now this is there punishment.
     
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  4. guvenor

    guvenor Junior Member

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    I believe only residents of Cyprus are affected. If you are non resident with a Cyprus account then you are unaffected.
     
  5. islandman1010

    islandman1010 Elite Member

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    I think it applies to everyone. The British government will refund any soldiers based there.. But any pensioners/hoemowners etc that have accounts will be hit.

    Its completely bonkers and just shows how they just dont know how to fix the system. If this goes ahead then the same will probably be thought about in Spain and Italy. This would be another financial meltdown.
     
  6. ADHD-Dude

    ADHD-Dude Power Member

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    It doesn't mater who holds money in Cyprus, EU confiscated money without a Trial.

    Today in Cyprus tomorrow in Italy and Spain.

    All bank account in Cyprus are affected by this.
     
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  7. dys872

    dys872 Junior Member

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    So what, the power to tax is the power to destroy. The more tax you enforce on others the more of a slave you are. Most people demand they be slaves.
     
  8. guvenor

    guvenor Junior Member

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    I was only saying this because in a sense, only the people of Cyprus will be bankrolling their own country and not all the other EU countries as per usual
     
  9. islandman1010

    islandman1010 Elite Member

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    I think thats wrong. If they can do this then the EU will give them a large bailout loan funded by the rest of us in Europe.
     
  10. guvenor

    guvenor Junior Member

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    I thought they had taken this move, so that a Europe wide bailout will be avoided ? I must have misunderstood sorry
     
  11. oliver twist

    oliver twist Junior Member

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    The problem here is that this is a precedent. Countries like Portugal, Ireland, Spain, Italy, etc, are not far away from this.
    Last Friday the EU Ministers of Finances had a meeting until 05:00AM, just to try to stop the ongoing economical devastation in Europe.
    Guess this is just the beginning of a large European bankruptcy, starting on the smaller countries and spreading.
    Although there are already many EU countries bankrupted, they are avoiding saying it to the masses.

    People will start taking their money out of the banks, and the economy collapses...
     
  12. DeniX3

    DeniX3 Regular Member

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    European idiotic politicians. That greedy basterds want to take the money so bad they forgot to think what can happen after....
     
  13. myownhero

    myownhero Power Member Premium Member

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    Wait the EU has authority to garnish money from private bank accounts in austere countries?

    Damn son.
     
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  14. painy1

    painy1 Junior Member

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    I'll personally think that those countries who hadn't taken care of their economy should be removed from Euro. It is not fair that well behaving countries should pay billions and billions for assholes' banks who took shitload of cheap loans.. Current artificial situation is maintained by bails and guess who those bails pay... Germany, France, Belgium, Netherlands Finland etc. Greece has already gone through debt restructuring and those bails are long gone.

    So what do you think about this? Should there be a new currency-union for those countries which do take good care of their economy? Current situation can only end badly or really badly.
     
  15. zerofoxtrot

    zerofoxtrot Senior Member

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    Kicking out countries from the EU which are not performing well on their economy? The EU wasn't founded to focus on economical aspects, but instead on peace between the countries and the right to freely travel through EU affiliated countries.

    Anyway, I heard this on the news this morning. Was in a hurry so I couldn't follow everything, but I did hear people saying they were going to withdraw every single penny they had from their bank accounts. You might want to have a large storage holder for that.
     
  16. painy1

    painy1 Junior Member

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    European Union EU =/= Euro (currency-union)

    EU was originally founded to serve economy between the european countries. The story began in 1951 as an European Coal and Steel Community. EU is all about money and business, countries in EU and Euro don't have the power to control their own economys' as its all being lead from the European parliament.
    The whole Euro-crisis is all about banks and countries abusing the super cheap loans and now the countries can't afford to pay the loans. It is that simple. Now the whole Currency-Union is struggling to survive the loans of few asshole countries.

    European-Union is a great thing but this currency union isn't. Let's compare two very similar countries: Sweden has its own currency but Finland is in Euro-currency. Sweden's budget is on profit and Finland's isn't and EU-requires Finland to take more loans for the emergency funds and bails but Sweden only enjoys the good sides of the EU.
    So the conclusion is that someone made good money out of Euro but the losses are socialized.
     
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  17. Roparadise

    Roparadise BANNED BANNED

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    Why does the EU support discrimination against the eastern member nations. Not only do they allow the UK to fuck over Romanians and Bulgarians, but now they are going after Cyprus. Why didn't they do this in Germany as well?
     
  18. seoguy81

    seoguy81 Power Member

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    because my dear friend... Germany is bearing the brunt of the stupidity (and the financial burden) of other member nations who went a bit too easy when it came to public spending and welfare. Germany is in a way calling the shots and also bearing part of the bailout funds shouldering the responsibility. After all, Merkel is answerable to her country first.

    As far as the UK is concerned, the less said the better. The British sterling has been hammered since the start of this year and most economic data only points to stagnating growth.

    Cyprus is yet to vote on the proposals.. so all that we hear now in the interim is pure speculation and news media trying to panic people by making flashy headlines. I highly doubt that the Cyprus parliament will vote on this condition (levying a tax on all deposits made in Cypriot banks). As of today, banks in cyprus are closed to public until Thursday.

    The way I see it, this was just a 'thinking out loud' aspect of the EU/IMF to gauge public reaction. However, that being said, the writing is clear on the wall. You might want to think twice before depositing huge sums of money, especially in a European bank.
     
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  19. UrsuAke

    UrsuAke Power Member

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    Look on the bright side of all these events. After the meltdown, if we get to see it through, they'll make a movie about it!
     
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  20. clpik

    clpik Regular Member Premium Member

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    I once saw a documentary where some dude explained how EU is just another socialism only sugar coated with democracy to blind everyone. Conspiracy theories may get ridiculous sometimes but these kind of things make me wonder.