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Cyprus Bank Depositors Forced to Forfeit 9.9% of their Money to Fund Bailout!

A bailout of Cyprus has been arranged

If you have money in a bank in Cyprus which is part of the European Union, you will lose some if it- up to 9.9% and get equity in the bank in exchange.

Details of the Cyprus Bailout:

http://www.reuters.com/article/2013/03/17/us-cyprus-parliame...



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A bailout by any other name, wreaks havoc! Man the bilge pumps!

Us poor folk cannot bailout a bank. We ain't got enough money.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Thus the amount

should be allowed to be used as tax credit imo

claiming a dependent lol

donvino

The first question that comes to mind

Could it happen here?

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Absolutely.

Right in the contract to open a checking account you agree that all your deposits are basically GIFTS TO THE BANK.

That is for those who have over

100,000 euros in the bank, and all this does is "stave off bankruptcy".

The rate is 6.75 pct for deposits less than 100,000 Euros

Its confiscation no matter how you look at it

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And it can be done with very little effort

Just a small change in the accounts of the depositors

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