This morning Sky reported that the levy on balances over 100k€ had now
increased to 60% as per my prediction that it would increase from the
40% to 50%. It just shows you should never underestimate the
insensitivity of the Eurocrats to the plight of ordinary people.
Also on cue the human interest story appears in todays DT Money
headlined , "Cyprus Grabs Family's Fortune". The sold their villa on the
island but now cannot bring the 200000€ back to Britain. I warned abou
the inverse of this two days ago for would be purchasers. It works both
ways as funds are held in Cyprus lawyers accounts with a Cyprus bank
will be aggregated in the client escrow account and so subject to the
full 60% theft.
Also on cue Richard North reports in his blog EU Referendum blog details of the Bezzle are starting to leak out.
http://www.eureferendum.com/
Richard headlines his piece Eurocrash: corruption at heart of Cyprus
crisis. Cypriot banks 'forgave' loans to MPs and firms. That is the EU
way, forgive your cronies and rob the rest.
Richard writes, "
These tell of
an unhealthily close relationship between the Cypriot banks and
politicians, and with political parties and trades unions. Thus we hear
that the Bank of Cyprus and Laiki, between 2007 and 2012 gave loans
amounting to millions to these groups, without in any way seeking full
repayment.
The Bank of Cyprus wrote off the
€2.8-million loan given to a hotel with ties to the communist-rooted
Progressive Party (AKEL) and forgave significant portions of many other
loans. "
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