Cyprus: 30% haircut, paupers walk off unharmed

theta

full member

Activity: 164

Merit: 100

Quote from: niko on March 25, 2013, 10:02:15 AM

Quote from: theta on March 25, 2013, 08:15:33 AM

Quote from: mai77 on March 25, 2013, 06:41:47 AM

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.

The crisis was precipitated by those very same fu**s, however. Shocked

Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance.

Is portion over 100k taxed, or the whole amount if over 100k?

30% of amount > 100k. If you have 100k, tax is zero, if you have 110k, tax is 3k, if you have 1.1m, tax is 300k.

lebing

legendary

Activity: 1288

Merit: 1000

Enabling the maximal migration

Quote from: mai77 on March 25, 2013, 09:18:38 AM

The Russians are fuming over the confiscations of their Cyprus accounts.

Russia's PM Medvedev said:

" The theft in Cyprus is comparable only to confiscations of wealth of jews by Adolf Hitler's helpers "

quite true actually. Undecided

Not really. The jews had their money taken from the bank in a country in which they were a citizen. The russian oligarchs all moved their money offshore - there is always a risk doing so and they should know that.

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Quote from: theta on March 25, 2013, 08:15:33 AM

Quote from: mai77 on March 25, 2013, 06:41:47 AM

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.

The crisis was precipitated by those very same fu**s, however. Shocked

Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance.

Is portion over 100k taxed, or the whole amount if over 100k?

mai77

newbie

Activity: 28

Merit: 0

The Russians are fuming over the confiscations of their Cyprus accounts.

Russia's PM Medvedev said:

" The theft in Cyprus is comparable only to confiscations of wealth of jews by Adolf Hitler's helpers "

quite true actually. Undecided

nwbitcoin

sr. member

Activity: 294

Merit: 250

You are a geek if you are too early to the party!

There are many ways to look at what happened here.

How about, the banks were declared bankrupt, and the EU insured the accounts of those with less than €100K?

Anyone with any knowledge of the EU banking rules would have made sure they put their money into multiple accounts with less that the max amount in each ages ago.

Not a bad deal over all?

When politicians get involved in anything that looks like business, strange things happen!

Wink

mai77

newbie

Activity: 28

Merit: 0

yeah, except they almost weren't insured. It does not make much difference today whether a politician steals 20'000€ from you or not.

lucky you, if your MP did not steal 20'000€ from your wallet by now.

theta

full member

Activity: 164

Merit: 100

Quote from: mai77 on March 25, 2013, 06:41:47 AM

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.

The crisis was precipitated by those very same fu**s, however. Shocked

Given that the deposits guarantee was/is for €100,000, it seems pretty reasonable and according to the rules. Given that the banks were insolvent, shareholders and bondholders were wiped out, and unsecured/uninsured creditors (including depositors > €100k) pay the balance. The ones with deposits <€100k are protected by the deposits insurance.

WishIStartedSooner

sr. member

Activity: 252

Merit: 250

Quote from: mai77 on March 25, 2013, 06:41:47 AM

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.

The crisis was precipitated by those very same fu**s, however. Shocked

Rich people civil war!

mai77

newbie

Activity: 28

Merit: 0

The Marxists have won!

The paupers of Cyprus with less than €100'000 of savings do not have to contribute anything.

The rich f**ks get a 30% haircut.

The crisis was precipitated by those very same fu**s, however. Shocked

Topic: Cyprus: 30% haircut, paupers walk off unharmed (Read 1282 times)