This could be a precursor as to what would happen to the rest of Europe and the USA. They're saying the economy is getting very unstable that the depositors will have to pay money to keep their deposits safe. In this case, the government has frozen the people's asset to prevent chaos in their country's economy.
--- In FairfieldLife@yahoogroups.com, merudanda <no_reply@...> wrote: > > BANK CLOSED IN CYPRUS! Government to seize 10 percent of all savings & > deposits! > http://www.bloomberg.com/news/2013-03-17/europe-braces-for-renewed-turmo\ > il-as-cyprus-deposit-levy-at-risk.html > <http://www.bloomberg.com/news/2013-03-17/europe-braces-for-renewed-turm\ > oil-as-cyprus-deposit-levy-at-risk.html> > All banks will this weekend have electronic transfer frozen while a > bailout is brought in and then on Tuesday, 19 March, ten percent of all > savings will be taken from every depositor and transferred to central > planners and banksters who take on all this risk and when it backfires, > don't want to take a haircut. > > The most plausible explanation is that the Cypriot government "ask for a > contribution of all deposit holders,"is not to wipe out non-resident > depositors and jeopardise its long-term prospects as an offshore > financial centre for Russian and other money . Depositors have come > through the financial crisis largely unscathed. Now they have been > bailed in, see strong social indignation and the beginning of something > along the lines of the 1930s >
