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Greece introduces cashpoint tax in desperate bid to raise revenue and stop run on banks [tr]
UK Daily Mail ^ | May 5, 2015 | John Hall

Posted on 05/06/2015 8:36:35 AM PDT by C19fan

Greece has revealed it is to introduce a surcharge for all cashpoint withdrawals and financial transactions in a desperate attempt to prevent citizens withdrawing their money from the country's beleaguered banks. Ministers hope the controversial move could raise as much as €180 million, which the Athens government hopes will help the country avoid defaulting on debts owed to international creditors. As the Greek economy teeters on the verge of bankruptcy, millions of panicking citizens have completely cleared their accounts - pulling more than €28 billion out of banks and pushing the total cash revenue held in the country's financial institutions to a 10-year low.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: greece
If I was in Greece I would go to the bank right now and close the account. The tax is only 0.1% but the principle has been established.
1 posted on 05/06/2015 8:36:35 AM PDT by C19fan
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To: C19fan

Exactly, And since the country is now run by Socialists I fully expect them to simply seize all bank accounts to help settle their debts. They’ll promise the Greek people something in return but it’s not like they’ll live up to it.


2 posted on 05/06/2015 8:38:48 AM PDT by navyguy (The National Reset Button is pushed with the trigger finger.)
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To: C19fan

Since this is only a proposal at this point, they are almost guaranteeing a run on the banks.


3 posted on 05/06/2015 8:40:17 AM PDT by fruser1
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To: C19fan
"The tax is only 0.1% but the principle has been established."

Soon it will be 5%, then 25%, then 75% then the acknowledgement that "your money is gone". I'd take out every dime I could immediately. 99% of something beats 100% of nothing.

4 posted on 05/06/2015 8:40:50 AM PDT by circlecity
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To: fruser1

Since this is only a proposal at this point, they are almost guaranteeing a run on the banks.


I think that is also a little bit of what is going on regarding the Fed threatening to raise interest rates “soon”, but they never do. And they don’t dare.


5 posted on 05/06/2015 8:48:52 AM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: C19fan

Just like the US government - the preferred solution to economic woes brought about by mindless socialist programs is to find another gimmick to extort more money from producers.


6 posted on 05/06/2015 8:56:26 AM PDT by Iron Munro (We may be paranoid but that doesn't mean they aren't really after us)
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To: C19fan

Coming to the big 4 in America soon.


7 posted on 05/06/2015 8:57:15 AM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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To: circlecity
-I'd take out every dime I could immediately. 99% of something beats 100% of nothing.

Exactly!


8 posted on 05/06/2015 9:05:30 AM PDT by JPG (Lefty reporters doing battle with Sen. Cruz will continue to be chewed-up and spit-out.)
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To: C19fan

Why would any Greek keep their euros in any bank in Greece or the rest of the EU? You’ll go to bed with a nice number of euros and wake to the news that they have all been replaced with “new drachmas”. They might be safe in a Swiss bank, but I expect that any Greek citizens’ accounts anywhere in the EU will be converted.


9 posted on 05/06/2015 9:18:36 AM PDT by KarlInOhio (Darth Obama on 529 plans: I am altering the deal. Pray I don't alter it any further.)
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To: C19fan

One would have to fundamentally and wholly not understand human behavior to even propose these measures - let alone enact them.

Greed, Stupidity and short-sightedness should be, like, the Greek motto.


10 posted on 05/06/2015 9:25:20 AM PDT by Noamie
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