Cyprus-Forum.com

[Paphitis]

The most poor are exempt from this levy.

It is only accounts above 100,000 that will have the levy applied. But being levied 60% is massive. It reminds me of European Feudalism.

Losing 12 million to a levy is massive so I do not blame a politician removing their money out of Cyprus at all.

As to giving to the poor, well it all sounds so nice, but apparently Anastasiadi has reduced his Presidential wage by 25% which is the most Patriotic action I have seen from a Cypriot politician in a long time.

As to who is responsible for this levy, well that is up to some debate, but my understanding is that the EU, ECB, Troika, have pressured the Cypriot Government into this so Troika and EU is responsible to a large extent. The Cyprus Government is responsible for accepting these ludicrous terms which destroy confidence in Cypriot Banks and as a result will either bankrupt them as might be the case with Laiki or decimate them as is the case with BoC.

But since we are talking about giving to the poor, I hear that the Orthodox Church would have a massive tax bill if they were not exempt from tax. And since they are the wealthiest in Cyprus, then perhaps the Church should no longer be exempt from tax and all humanitarian arms of the Organization can become separate entities and retain the tax exempt status.

[Svetlana]

The 'contribution' or whatever we want to call it works out at about €7,500 per man/woman/child. What alternative scheme, with the instant results required to convince the Troika that things would actually happen, do Forum members suggest our Government put in place. The problem is we have lost our credibility

[bill cobbett]

The 'contribution' or whatever we want to call it works out at about €7,500 per man/woman/child. What alternative scheme, with the instant results required to convince the Troika that things would actually happen, do Forum members suggest our Government put in place. The problem is we have lost our credibility

Well, isn't it the case that we have two issues...

The CY Public Debt of some 10 Billion Euros, which is about 60% of CY GDP, which to put it into perspective is at the lower end of the range of EU member state's national debts and which is being addressed by increasing efficiencies in the public services, increasing state revenues etc as detailed in the MoU at ... http://media.philenews.com/PDF/mnimonio_new.pdf ... which is a set of fair enough and pretty sensible measures which CY can swallow.

...BUT then we have the very, very contentious other conditions for help from the thieving Troika of the daylight robbery from depositors in Laiki and BoC to make up the other 7 Billion Euros, to bring the total in to the danger zone of 100% of CY GDP which led to the raids on the uninsured savings of CYs and the working capital of CY businesses that weren't asked of other EU states that are in a far worse position. The ECB were quite happy to roll the Euro Printing Presses to help them, why is CY not being treated equally fairly...???

So who really has lost credibility...??? CY...? or is it the Troika, particularly the Union and the ECB...???

[cyprusgrump]

We need to be told why the EU couldn't give the tax-paying EU Citizens of Cyprus €17B...

...yet it can give €120B to the citizens of other countries like Turkey that have never paid a cent into the EU...

[Paphitis]

The alternative is to print and print some more money.

Why not just allow Cyprus to print some Euros through the ECB in order to avoid the plunder of people's savings and to save the Banks which account for 35% of our GDP?

[johnny1]

In 147 banking crises since 1970 tracked by the IMF, no depositors, irrespective of the amounts held and the banks with whom the deposits were placed, suffered losses.

[johnny1]

Russian businesses are unlikely to continue to patronize Cyrus. Press reports quoted one Russian businessman’s wry observation that the EU had killed Cyprus in one day: “When the Russians leave, who is going to stay at the Four Seasons for $500 a night? Angela Merkel?”

[kurupetos]

Russian businesses are unlikely to continue to patronize Cyrus. Press reports quoted one Russian businessman’s wry observation that the EU had killed Cyprus in one day: “When the Russians leave, who is going to stay at the Four Seasons for $500 a night? Angela Merkel?”

What's the benefit for the average Cypriot? Russian investments create very few jobs for Cypriots and most of the money ends up in the dirty hands of developers and lawyers.

We should get rid of all foreigners; Russians, Europeans, Asians, Africans must go.

[supporttheunderdog]

Russian businesses are unlikely to continue to patronize Cyrus. Press reports quoted one Russian businessman’s wry observation that the EU had killed Cyprus in one day: “When the Russians leave, who is going to stay at the Four Seasons for $500 a night? Angela Merkel?”

What's the benefit for the average Cypriot? Russian investments create very few jobs for Cypriots and most of the money ends up in the dirty hands of developers and lawyers.

We should get rid of all foreigners; Russians, Europeans, Asians, Africans must go.

I am staying!

[johnny1]

why the f**k did bank of cyprus want to expand into other far away countries like russia romania australia etc...apart from greed.
do the bank of england or the bank of america do such things?