10% raid on banks in an EU country

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Lavanda
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Re: 10% raid on banks in an EU country

Postby Lavanda » Tue Mar 19, 2013 12:21 pm

Jezz, what a mess. If this doesn't flag up what a complete bunch of brainless incompetents are 'running' countries and the EU then I don't know what will. I'm boringly pacifist but I think it might be time for public disorder across the EU. :shock:

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Re: 10% raid on banks in an EU country

Postby alpujarran » Tue Mar 19, 2013 2:35 pm

Portugal raided €5.6bn (£4.8bn) of pension fund assets in a controversial scramble to meet its deficit targets in late 2011. Portugal said it had informed the EU and IMF and assured them it would be a “one-off”.

So that's alright then.

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Re: 10% raid on banks in an EU country

Postby katy » Tue Mar 19, 2013 2:43 pm

alpujarran wrote:Portugal raided €5.6bn (£4.8bn) of pension fund assets in a controversial scramble to meet its deficit targets in late 2011. Portugal said it had informed the EU and IMF and assured them it would be a “one-off”.

So that's alright then.
Look a bit closer to home...Spain has been doing it too

http://blogs.the-american-interest.com/ ... sion-fund/

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Re: 10% raid on banks in an EU country

Postby alpujarran » Tue Mar 19, 2013 2:58 pm

katy: but those were state-pension funds in Spain. Portugal confiscated private pensions. Something new for Spain to try :sick:

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Re: 10% raid on banks in an EU country

Postby fincalospinos » Tue Mar 19, 2013 3:50 pm

Apart from Browns raid on pension funds, the Bank of England has been doing it to all UK pensioners and savers for the last few years in the form of Quantative Easing, so it not just an EU phenomena.
Hardworking resident !!

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Re: 10% raid on banks in an EU country

Postby pete_l » Tue Mar 19, 2013 3:53 pm

fincalospinos wrote:Apart from Browns raid on pension funds, the Bank of England has been doing it to all UK pensioners and savers for the last few years in the form of Quantative Easing, so it not just an EU phenomena.
Yes, the Divided Tax Credit raid in 1997 is estimated to have benefited every government since then (and caused pension savers a similar-sized loss) of £5Bn annually. Compared to that, all these other attempts look amateurish. :(

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Re: 10% raid on banks in an EU country

Postby alpujarran » Tue Mar 19, 2013 4:58 pm

Cyprus Finance Minister Resigns, President Refuses To Accept Resignation :?

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rafiki
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Re: 10% raid on banks in an EU country

Postby rafiki » Tue Mar 19, 2013 5:02 pm

Sinking ships and rats! :crazy:
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Re: 10% raid on banks in an EU country

Postby Devils Advocate » Tue Mar 19, 2013 5:52 pm

So the UK at this very moment is flying out £1m to help out the troops etc. based in Cyprus whilst the banks are shut.

As I asked earlier...........do debit cards not work either in shops?...........is it a complete lock down over there :?

It's just that if they can still use a debit card why this expensive exercise?...........can't think of the last time I used a "hole in the wall" cash machine either here or in Spain :?
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Re: 10% raid on banks in an EU country

Postby Chunky Monky » Tue Mar 19, 2013 6:08 pm

?...........can't think of the last time I used a "hole in the wall" cash machine either here or in Spain

Remind me not to go drinking with you! :shock:

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Re: 10% raid on banks in an EU country

Postby Devils Advocate » Tue Mar 19, 2013 6:13 pm

Chunky Monky wrote:Remind me not to go drinking with you! :shock:
I'm a "cash back" from Tescos man...........fed up with those machines eating me card :D
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Re: 10% raid on banks in an EU country

Postby alpujarran » Tue Mar 19, 2013 6:26 pm

Devils Advocate wrote:As I asked earlier...........do debit cards not work either in shops?...........is it a complete lock down over there :?
Apparently ATMs, debit cards and credit cards still work.
I think

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Re: 10% raid on banks in an EU country

Postby JWhite » Tue Mar 19, 2013 6:28 pm

I heard that the Russians were tipped off BEFORE the announcement and the accounts were frozen and managed to remove £2billion of their money !

My sister-in-law's sister moved over there 5 yrs ago and loves it, I wonder if the lurve has worn off now that their bank account has been raided :mrgreen:

On the side, I do feel heart felt sympathy with people who live over there and are prudent savers. It is always the little people who pay for the mistakes of the politicians.

I read someone on the internet forums here in the UK panicked and removed his savings from his Santander Account (where also we have all our savings), i was so relieved when someone came on and said this was stupid as Santander in the UK has its own separate banking license and therefore if anything happened in Spain it would not be affected.

Time to man the lifeboats and get out of the EU for good ! :shock:

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Re: 10% raid on banks in an EU country

Postby knowal » Tue Mar 19, 2013 6:39 pm

Devils Advocate wrote:So the UK at this very moment is flying out £1m to help out the troops etc. based in Cyprus whilst the banks are shut.
Flying out cash to a foreign country?
This is how currency crisis is spelt, isn't it?

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Re: 10% raid on banks in an EU country

Postby Devils Advocate » Tue Mar 19, 2013 6:51 pm

White Horse wrote: This is how currency crisis is spelt, isn't it?
I wouldn't know.........but it makes it a lot more dramatic!

280e each for the personnel affected a spokesman said.

What happens if the vote says "no" as is predicted. Will the EU withdraw the 10 billion pledge or stump up the deficit :think:
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Re: 10% raid on banks in an EU country

Postby gus-lopez » Tue Mar 19, 2013 7:28 pm

"Our Taxi driver: "Every single person I've picked up at Larnaca airport has been a Russian flying into get their money out of banks" #cyprus "

Cyprus Government REJECTS ECB bailout offer. 36 against – 19 abstained – 0 for

from here.

http://www2.onthisisland.com/live-blog- ... 013/03/16/
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Re: 10% raid on banks in an EU country

Postby Lavanda » Tue Mar 19, 2013 7:34 pm

So what does that mean? Will the UK plane with the euros turn around mid-air? This is getting sillier by the second.

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Re: 10% raid on banks in an EU country

Postby alpujarran » Tue Mar 19, 2013 7:58 pm

When even politicians find an idea too distasteful it's a sign that that the banksters have sunk too far. In the scheme of things they are somewhere below the level of whale-****.

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rafiki
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Re: 10% raid on banks in an EU country

Postby rafiki » Tue Mar 19, 2013 8:01 pm

alpujarran wrote:When even politicians find an idea too distasteful it's a sign that that the banksters have sunk too far. In the scheme of things they are somewhere below the level of whale-****.
:thumbup: :thumbup:
Brian.

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Re: 10% raid on banks in an EU country

Postby katy » Tue Mar 19, 2013 8:13 pm

alpujarran wrote:When even politicians find an idea too distasteful it's a sign that that the banksters have sunk too far. In the scheme of things they are somewhere below the level of whale-****.
More likely is that they have been threatened by Russia. So what next...a loan from Russia :think: One thing is certain Cyprus will run out of money by June!


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