10% raid on banks in an EU country

[gus-lopez]

More likely is that they have been threatened by Russia. So what next...a loan from Russia One thing is certain Cyprus will run out of money by June!

If they all start clearing there accounts there wont be enough money & the bailout will need to be even higher !

[olive]

No. They are holding out for a better deal.

Doesn't matter where it comes from for the Cypriots.

Russia (so they can have a Med naval base to keep an eye on the Middle East now they have lost Syria)

EU (so they can keep all their sheeple in one herd and pave the way for more levies)

The stakes are actually a lot higher than many people understand.

I would love to be in the behind the scenes meetings going on right now. This is actually history in the making.

Respect for the president of Cyprus He is playing a great game.

[alpujarran]

So what next...a loan from Russia One thing is certain Cyprus will run out of money by June!

Russia might just bail out Cypriot banks and take a share in their gas production. June is a long way off

[JWhite]

Don't like the sound of this......my poor share prices

[alpujarran]

Don't like the sound of this......my poor share prices

Just think of the tax you'll save if you don't make a profit

[gus-lopez]

Don't like the sound of this......my poor share prices

Just think of the tax you'll save if you don't make a profit

Aah yes , but the levy would be based on what you did have at the start rather than what you haven't got now .

[alpujarran]

gus-lopez: yes, that makes sense. You should be in finance

[JWhite]

They are all in ISA's, tax free

[Devils Advocate]

Russia (so they can have a Med naval base to keep an eye on the Middle East now they have lost Syria

The stakes are actually a lot higher than many people understand

Yep, Cuba had crossed my mind.

[Lavanda]

Well perhaps someone will finally have the guts to do the blinking obvious and leave the euro? There again, perhaps not.

[gus-lopez]

They are all in ISA's, tax free

You left out " at the moment "

[alpujarran]

Spain, it would appear, has changed constitutional rules to enable a so-called 'moderate' levy on deposits - as under previous Spanish law this was prohibited. For now, they claim the 'levy' will be "not much higher than 0%" and is mainly aimed at regions in Spain that have "made no effort to collect taxes" based on new revenue expectations. El Pais

[Lavanda]

Apparently it's a levy on the banks not the depositors. Of course, banks do not have money. Depositors have money. Will we see an increase in bank changes or just a theft swift and direct?

[markwilding]

Well perhaps someone will finally have the guts to do the blinking obvious and leave the euro? There again, perhaps not.

Maybe the UK should leave the pound too.

[Lavanda]

Yes! I think we need to start again. I'm not that worried as my parents lived through worse times but I think all aspects of civilised life have either been taken over by bandits or disappeared altogether that perhaps we will all get to the stage where we are back to bartering potatoes.

[Devils Advocate]

perhaps we will all get to the stage where we are back to bartering potatoes.

Still wouldn't work with the likes of the EU around. They'd want all the European countries to unite in equal spud partnership irrespective of how many potatoes they grew.............the Eurospud would then flounder from one disaster to the next as multi million spud bailouts were handed out to the weak..............and all the expats would still be moaning about the UK King Eddie v Eurospud exchange rate anyway

[olive]

Yes, seeds are a sound investment.

Will the banks in Cyprus actually be able to re open not just later this week but ever?

I suspect they will but only with currency controls. Maybe a max of 2000 euros a week withdrawals in total.

If you need cash for something now might be a good time to draw it out.

I wonder what Russia's counter offer will be? Of course like Greece, this "bailout" will only be the first. They will need another one in the Autumn!

[alpujarran]

Depositors with more than €100,000 in Cypriot banks – Russian or not – will undoubtedly have done all they can to remove it by now.

March 6th 2013 euromoney

[JWhite]

The trouble with spuds though is they tend to go in the water, or at least mine do ! I am a multi tasker kind of person and you need to keep your eye on the spuds don't you

[El Cid]

I wonder what Russia's counter offer will be?

Gazprom get the natural gas rights and the Russian navy gets a base in Limmasol in return for a complete bailout.

That should please the Americans!

Sid