Posted on 03/24/2013 7:11:45 PM PDT by blam
40% on the amount over 100,000? ( I.e. 40% of 5,000?)
I’d read on Zero Hedge that anyone whose last name ends with “ov” can get as much as a 40% haircut.
Thanks!
So, when does Russia declare war? or just make a real good threat.
Tha should be good for the Cypress economy
That I am not sure of. It sounded to me like 40% of 105,000.
Scratch my previous, I think it’s 40% of the 5K.
BINGO!
It’s not stealing. It’s just a haircut.
“So it would be better if the entire country collapsed and people started slaughtering each other in the streets?”
I’ll take this one.
Yes.
Although your “slaughter in the street” comment is hyperbole, the best solution for Cypress would be to go through the real pain of a real insolvency now instead of make-believing everything is OK all the while ignoring the bills, debtor calls, and foreclosure notices for a few more months. This deal only serves to make things worse later.
Besides, an early ticket out of the EU most likely would ultimately be seen as a blessing in future years.
I might suggest you read The Road to Serfdom. This deal hasn’t saved the people of Cypress from anything. The reactions to this deal (like the drying up of private capital in the face of draconian state controls) will only serve to make an eventual recovery all the more difficult.
You cannot borrow your way out of debt - or towards prosperity.
The People of Cypress weren’t saved at all. The EU threw itself a lifeline and tied an anchor around the necks of the People of Cypress in the process. And they couldn’t give a tinker’s damn. If you think this deal was about saving Cypress, you haven’t been paying attention.
WHAT A SCAM!!!!!!!
Corruption...it’s everywhere.
exactly
They can simply confiscate your property without recourse. No due process of law. This will come to be seen as a watershed event.
Obama...
“Set course for the Euro system...Maximum warp...”
“Engage”
...should be lost 100%. That's what 'uninsured' means. No friggin' bailouts!
Whole lot of EU officials need to buy a Geiger counter.
I got it. Or watch for their glow in the dark appearance LOL
This isn’t going to end well.
Why would the entire country collapse?
Your math is way off. 105,000 * 0.4 = 42,000 (recall that 50% is half and 40 percent is slightly less than half).
Sorry, just noticed that it is being postulated that only the amount over 100K would take the haircut, so your math would be correct.
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