Cyprus-Forum.com

[Maximus]

Not necessarily.

It will only f&@k Cyprus right up. There might be some minor contagion but Cyprus is a tiny market in the scheme of things. If they are going to do it, they will do it to Cyprus. They will do it to make an example and send a message to Spain, Italy and Greece. They are less likely to do it to those countries.

Its not the case Paphitis. If they wouldn't do it to those country's then Cyprus is no example to them.

Cyprus would leave the Euro system for sure if that happened and it would cause contagion across the rest of Europe.

Yeah it is. Those countries would be scared shitless and not just that, but even manly economies like the U.S. and China would be watching and reviewing their Banking Sectors against the possibility of Banking Collapses there.

In fact, the levy in Cyprus made international headlines. It was deemed a very dangerous precedence which has repercussions globally, not just in Europe.

It also gives the ECB greater bargaining power in introducing new taxes and draconian austerity in those countries.

What does scared shitless money do? it leaves....

Europe = right up sh*t creek if they set that precedence.

[Paphitis]

Not necessarily.

It will only f&@k Cyprus right up. There might be some minor contagion but Cyprus is a tiny market in the scheme of things. If they are going to do it, they will do it to Cyprus. They will do it to make an example and send a message to Spain, Italy and Greece. They are less likely to do it to those countries.

Its not the case Paphitis. If they wouldn't do it to those country's then Cyprus is no example to them.

Cyprus would leave the Euro system for sure if that happened and it would cause contagion across the rest of Europe.

Yeah it is. Those countries would be scared shitless and not just that, but even manly economies like the U.S. and China would be watching and reviewing their Banking Sectors against the possibility of Banking Collapses there.

In fact, the levy in Cyprus made international headlines. It was deemed a very dangerous precedence which has repercussions globally, not just in Europe.

It also gives the ECB greater bargaining power in introducing new taxes and draconian austerity in those countries.

What does scared shitless money do? it leaves....

Europe = right up sh*t creek if they set that precedence.

Yes it leaves but it would serve as a warning to Eurooean Countries to balance their budgets. The levy in Cyprus not only served as a warning to other EU countries, but even global superpowers stood up and took notice of what had occured.

When you got countries like US, China, Australia and Germany review their banking against all possible eventualities then just imagine the fear and frustration in countries like Italy, Spain and Greece.

[Cap]

Claire, just open up an account with Bank of Cyprus or Hellenic and go about your daily business.
Come over and find out for yourself.

People posting from abroad are bound to confuse and scare you.

[Paphitis]

:lol:

Claire, just open up an account with Bank of Cyprus or Hellenic and go about your daily business.
Come over and find out for yourself.

People posting from abroad are bound to confuse and scare you.

Yeh listen to the boy Claire.

Claire, only put enough money that you will need to pay your bills and living expenses. Don't put large sums or live savings in Cyprus like some people did in the past because it is too early for that. Also look at other options such as VISA because its hassle free. They are worth looking into because they are just as easy, if not easier.

Let Cap have his life savings in Cyprus. He lives there so knows very well it is safe but only a few months ago they were all shitting bricks!

[Cap]

I'm sure the bulk of her savings would remain in the UK.

Anything under 100k in CY is guaranteed.
She's sorted.

[supporttheunderdog]

we are reviewing our banking with Alpha Bank as they treat us as an international customer and have decided to renumber our account and service It from Larnaca. The new cheque book is free, but we have to travel to Larnaca to collect. How Generous, but the travel is a bit of a B*gger.
Might move to one of the others.

[GreekIslandGirl]

The Greek banks in Cyprus offer good service as well.

Hellenic Bank, or National Bank of Greece (Cyprus). I think Piraeus Bank also does online banking.

You will have problems with UK bank transactions abroad - have heard horror stories.

[Flying Horse]

If, and when I move to Cyprus, I'll be opening a BoC account in London, depositing a few quid in there to use as a household expenses account for when I'm actually in Cyprus and living day to day.
My UK accounts will still be there to transfer monies via Internet if and when necessary.

This is wise, is it not?

[GreekIslandGirl]

The BoC in the UK is treated totally separately from the branches in Cyprus. It would count as UK transactions and the fees and charges will be applied.

If you want ease of banking in Cyprus, it's still best to open an account once you are over.

[Flying Horse]

The BoC in the UK is treated totally separately from the branches in Cyprus. It would count as UK transactions and the fees and charges will be applied.

If you want ease of banking in Cyprus, it's still best to open an account once you are over.

Really? Well I didn't expect that I presumed it would be used accordingly as a local account on the island.

I won't be doing that then