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I don't get the outcry over Cyprus at all.

They're a tax haven thorn in the EUs side of decades now and the EU is already giving them 10bil. In return they have to raise 5 of their own by taxing the deposits.

EU is stealing from them? Only theft here is that 2/3 of the help required to their over leveraged banks is still coming from EU citizens pockets via tax payers money. An I should be upset that I'm not forking up more cash so that russian and EU millionaires with mailbox corporate headquarters can continue dodging domestic taxes unaffected? I think not. The general population is adequately safeguarded in the deal imo, people laundering money or stealing from their countries by dodging taxes I got ZERO sympathy for. Play the game, you risk you get burnt. Bank of Cyprus just isn't Deutche Bank is it. A lot of global financial and austerity issues would go away if all tax havens went the way of Cyprus.

Good on the EU for not throwing public funds at their private bank sector without strings attached. Countries sending aid so that a bunch of oligarchs and dodgers could keep their deposits intact would have been truly grotesque.

Brdavs wrote:I don't get the outcry over Cyprus at all.

They're a tax haven thorn in the EUs side of decades now and the EU is already giving them 10bil. In return they have to raise 5 of their own by taxing the deposits.

EU is stealing from them? Only theft here is that 2/3 of the help required to their over leveraged banks is still coming from EU citizens pockets via tax payers money. An I should be upset that I'm not forking up more cash so that russian and EU millionaires with mailbox corporate headquarters can continue dodging domestic taxes unaffected? I think not. The general population is adequately safeguarded in the deal imo, people laundering money or stealing from their countries by dodging taxes I got ZERO sympathy for. Play the game, you risk you get burnt. A lot of global financial and austerity issues would go away if all tax havens went the way of Cyprus.

Good on the EU for not throwing public funds at their private bank sector without strings attached. Countries sending aid so that a bunch of oligarchs and dodgers could keep their deposits intact would have been truly grotesque.

It shows how ignorant/unaware you are of the situation....how is this the fault of either the Cypriot people who are having their money stolen, or the EU tax payer?

[KMA]Avenger wrote:

Brdavs wrote:I don't get the outcry over Cyprus at all.

They're a tax haven thorn in the EUs side of decades now and the EU is already giving them 10bil. In return they have to raise 5 of their own by taxing the deposits.

EU is stealing from them? Only theft here is that 2/3 of the help required to their over leveraged banks is still coming from EU citizens pockets via tax payers money. An I should be upset that I'm not forking up more cash so that russian and EU millionaires with mailbox corporate headquarters can continue dodging domestic taxes unaffected? I think not. The general population is adequately safeguarded in the deal imo, people laundering money or stealing from their countries by dodging taxes I got ZERO sympathy for. Play the game, you risk you get burnt. A lot of global financial and austerity issues would go away if all tax havens went the way of Cyprus.

Good on the EU for not throwing public funds at their private bank sector without strings attached. Countries sending aid so that a bunch of oligarchs and dodgers could keep their deposits intact would have been truly grotesque.

It shows how ignorant/unaware you are of the situation....how is this the fault of either the Cypriot people who are having their money stolen, or the EU tax payer?

Deposits under 100k euros are exempt from taxation. That covers the vast vast VAST majority of the intangible "Cypriot people". Above are mostly foreign deposits there due to the nature of their banking system - ie a tax haven/laundry mat.

I don't get it lol.

The laissez-faire thing to do would be to let their banks fail, let Cyprus exit the Eurozone (it's a bloody 0.2% blip on the radar) and let the depositors loose *everything*. Did I mess up or did they? We're already giving them 2/3 of the needed aid and we're being called thieves in return cos we're asking that they do a 1x tax on people they've made an industry of helping to de-facto steal from public coffers of their own countries/us. Please. You're welcomed to write to your PM to get Britain to fork 6bil extra to cover for Cyprus if you want.

If the aid went forward there'd be riots on the streets of Europe and with good reason. There is no money for public services, but apparently there is money to throw at a tax haven to save people that are part of the reason there is no money for the above mentioned public services since they channel their profits via Mann and other tax shelters.

Brdavs wrote:

[KMA]Avenger wrote:

Brdavs wrote:I don't get the outcry over Cyprus at all.

They're a tax haven thorn in the EUs side of decades now and the EU is already giving them 10bil. In return they have to raise 5 of their own by taxing the deposits.

EU is stealing from them? Only theft here is that 2/3 of the help required to their over leveraged banks is still coming from EU citizens pockets via tax payers money. An I should be upset that I'm not forking up more cash so that russian and EU millionaires with mailbox corporate headquarters can continue dodging domestic taxes unaffected? I think not. The general population is adequately safeguarded in the deal imo, people laundering money or stealing from their countries by dodging taxes I got ZERO sympathy for. Play the game, you risk you get burnt. A lot of global financial and austerity issues would go away if all tax havens went the way of Cyprus.

Good on the EU for not throwing public funds at their private bank sector without strings attached. Countries sending aid so that a bunch of oligarchs and dodgers could keep their deposits intact would have been truly grotesque.

It shows how ignorant/unaware you are of the situation....how is this the fault of either the Cypriot people who are having their money stolen, or the EU tax payer?

Deposits under 100k euros are exempt from taxation. That covers the vast vast VAST majority of the intangible "Cypriot people". Above are mostly foreign deposits there due to the nature of their banking system - ie a tax haven/laundry mat.

I don't get it lol.

The laissez-faire thing to do would be to let their banks fail, let Cyprus exit the Eurozone (it's a bloody 0.2% blip on the radar) and let the depositors loose *everything*. Did I mess up or did they? We're already giving them 2/3 of the needed aid and we're being called thieves in return cos we're asking that they do a 1x tax on people they've made an industry of helping to de-facto steal from public coffers of their own countries/us. Please. You're welcomed to write to your PM to get Britain to fork 6bil extra to cover for Cyprus if you want.

If the aid went forward there'd be riots on the streets of Europe and with good reason. There is no money for public services, but apparently there is money to throw at a tax haven to save people that are part of the reason there is no money for the above mentioned public services since they channel their profits via Mann and other tax shelters.

You didn't answer the question. most of the Cypriot bank branches OUTSIDE of Cyprus remained open...do you understand what that means?

Sniperwax wrote:

Juliette wrote:I do wish the EU would collapse. Central government is so overrated. Instead, metagovernment would be a far better option (like the conferences taking place here and there, with world leaders meeting to discuss their ideas for the future).

At least with all this Cyprus stuff Syria remains safe from the grubby hands of NATO.. or it should. Cannot imagine another expensive war being good for business (even though war in general is).


Ah well. Props to Cyprus for saying "Damn you, EU, we do not need your terms and thievery."

Is the EU like....sitting there thinking HEY EVERYONE look at Germany they were able to pay off their WWII bill it only took them 2/3 of a century if they can resolve debt so can you? I'm just trying to understand the mindset of the EU and the IMF a little better in a somewhat unbiased way.

Took finland 10 years.

[KMA]Avenger wrote:

Brdavs wrote:

[KMA]Avenger wrote:

Brdavs wrote:I don't get the outcry over Cyprus at all.

They're a tax haven thorn in the EUs side of decades now and the EU is already giving them 10bil. In return they have to raise 5 of their own by taxing the deposits.

EU is stealing from them? Only theft here is that 2/3 of the help required to their over leveraged banks is still coming from EU citizens pockets via tax payers money. An I should be upset that I'm not forking up more cash so that russian and EU millionaires with mailbox corporate headquarters can continue dodging domestic taxes unaffected? I think not. The general population is adequately safeguarded in the deal imo, people laundering money or stealing from their countries by dodging taxes I got ZERO sympathy for. Play the game, you risk you get burnt. A lot of global financial and austerity issues would go away if all tax havens went the way of Cyprus.

Good on the EU for not throwing public funds at their private bank sector without strings attached. Countries sending aid so that a bunch of oligarchs and dodgers could keep their deposits intact would have been truly grotesque.

It shows how ignorant/unaware you are of the situation....how is this the fault of either the Cypriot people who are having their money stolen, or the EU tax payer?

Deposits under 100k euros are exempt from taxation. That covers the vast vast VAST majority of the intangible "Cypriot people". Above are mostly foreign deposits there due to the nature of their banking system - ie a tax haven/laundry mat.

I don't get it lol.

The laissez-faire thing to do would be to let their banks fail, let Cyprus exit the Eurozone (it's a bloody 0.2% blip on the radar) and let the depositors loose *everything*. Did I mess up or did they? We're already giving them 2/3 of the needed aid and we're being called thieves in return cos we're asking that they do a 1x tax on people they've made an industry of helping to de-facto steal from public coffers of their own countries/us. Please. You're welcomed to write to your PM to get Britain to fork 6bil extra to cover for Cyprus if you want.

If the aid went forward there'd be riots on the streets of Europe and with good reason. There is no money for public services, but apparently there is money to throw at a tax haven to save people that are part of the reason there is no money for the above mentioned public services since they channel their profits via Mann and other tax shelters.

You didn't answer the question. most of the Cypriot bank branches OUTSIDE of Cyprus remained open...do you understand what that means?

I know you're implying richie riches got to save their deposits cos they had access to foreign branches while common people got the shaft but that's just the usual tin-foil hat stuff with little base in facts.

Bank of cyprus on cpyrpus or bank of cyprus ltd in UK are 2 separate entities under 2 different legal systems. Funds at a UK branch are separate from those on cyprus. And taxed. You couldn't waltz into a cipriotic bank in London and transfer 100mil off of cyprus once the cyprus assests were frozen (by virtue of banks that held them weren't doing business) and implying otherwise is just plain false.

Some could and would do it beforehand based on intuition/insider information. But that's not the shafting you're implying. Back then everyone could go into a bank on cyprus and had his saving transferred to a non cyprus based bank (and payed the accompanying taxes).

Brdavs wrote:
I know you're implying richie riches got to save their deposits cos they had access to foreign branches while common people got the shaft but that's just the usual tin-foil hat stuff with little base in facts.

Bank of cyprus on cpyrpus or bank of cyprus ltd in UK are 2 separate entities under 2 different legal systems. Funds at a UK branch are separate from those on cyprus. And taxed. You couldn't waltz into a cipriotic bank in London and transfer 100mil off of cyprus once the cyprus assests were frozen (by virtue of banks that held them weren't doing business) and implying otherwise is just plain false.

Some could and would do it beforehand based on intuition/insider information. But that's not the shafting you're implying. Back then everyone could go into a bank on cyprus and had his saving transferred to a non cyprus based bank (and payed the accompanying taxes).

What i'm implying?

Look mate, if our roles were reversed and it was you who had said it to me i would have at least had the courtesy to go see for my self!

http://www.zerohedge.com/news/2013-04-0 ... cation-day

http://www.dailymail.co.uk/news/article ... broad.html