What Norcon is justifiably aggrieved about is that depositors are taking the hit rather than shareholders and bond holders. Failing banks should be forced into insolvency with state intervention to make depositors whole if necessary and only after shareholders and then bond holders have eaten the losses.
Savers to lose money in EU bailout
- Thread starter onecog
- Start date
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Around 50% of the depositors are said to be russian. I wonder how many of them have connections with gazprom.
Maybe next winter they will start winding down the gas supply into europe. I've never seen russians take a hit where they don't hit back.
Maybe next winter they will start winding down the gas supply into europe. I've never seen russians take a hit where they don't hit back.
The mafia types may well just view it as a cost of doing business.
No you didn't 'soft in the head'...
You were too busy trying to tell us that nobody could see it coming...
Aron searle - Join date 2011
Icelandic banking crises 2008
Good luck quoting me on that one ellal.
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Your 'quoting' gives away your alter ego...
Btw - have you found those english laws yet....
pmsl at 'soft in the head'!
The smell of desperation....
Well it is the Euro that got them into this mess, now they will have to tax depositors, which will mean people frantically pulling their money out of Cyprus.
Can't see how that could possibly go wrong!
Are we not arguing pedantic here?
Yes, technically they are giving £100 and asking for £6-10 back.
But if you put your savings in a bank, money that YOU earned, would you be happy with this?
I still think that they are getting what they deserve, they voted for pro EU parties, even after they have been repeatedly screwed over by EU policies (Stockholm syndrome maybe?).
I know he didn't. I don't expect most people to be able to fully grasp and articulate what is going on but that doesn't mean they shouldn't be pi55ed off about it. As long as they realise that they are being shafted in favour of the bankers and that our politicians are bought and paid for that will do for now.
Not daft at all. But you are quite right that governments across the world are culpable too. The public are guilty of reckless borrowing not reckless saving.
The root cause is leverage - in Government, Bank, Household and Corporate balance sheets.
Time for a Downfall parody
I believe the real smell is that of your unending stream of bovine excrement...
Surely there must be an english law against that?
Could you toddle off and find out which one?
Oh sorry I forgot....You don't do that do you!
Really?
Do you know about the safety of your bank, or do you just feel safe because of the government backed insurance scheme? (*).
Would you put your savings in any old bank, or just whichever offers the least tax/cost?
I mean really, people will spend a lot of time researching what car to buy, what TV, what computer, but where to put their life savings?
How many people just choose whatever one is nearest/cheapest, it's only their life savings after all?
* http://www.forbes.com/sites/timwors...yre-reneging-on-government-deposit-insurance/
I believe the real smell is that of your unending stream of bovine excrement...
Surely there must be an english law against that?
Could you toddle off and find out which one?
Oh sorry I forgot....You don't do that do you!
Get yourself one of these, it may help you.
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