Cyprus Banks: Taxes, Russian Oligarchy, EU Bosses & Confusion Pt.3

posted by Ida B. Wells IV @ 11:33 AM
March 27, 2013

Merkel-u-stole-our-life-savingsConfusing news stories from Cyprus banking officials and from financiers in the European Union do not bode well for savings accounts in banks around the world. But the bottom line seems to be that 20 to 30% will be taken from ‘some’ bank accounts to make Cyprus eligible for a ‘bailout’ from EU bankers.

Cyprus banks are scheduled to open sometime this week, but as far as citizens of that country are concerned, their lives will never be the same.  Menelaos Hadjicostis and Elena Becatoros report today for the Associated Press (AP:

“Cypriot businesses were under increasing strain to keep running on Tuesday after financial authorities stretched the country’s bank closure into a second week amid fears that depositors will rush to drain their accounts.”

Banks there have been closed ten days, since March 16, while the nation’s leaders tried to figure out how to raise funds required for EU assistance.  Vague AP language announces:  “Under the deal for a 10 billion euro ($12.9 billion) rescue clinched in Brussels early Monday, Cyprus agreed to slash its oversized banking sector and inflict hefty losses on large depositors in troubled banks.”

While banks were scheduled to re-open today, now it is supposedly Thursday.  Even then, the two AP reporters say:  “Nicos Anastasiades, who told Cypriots that the central bank would impose some limits on financial transactions, but assured the public that restrictions would not be permanent.” In other words, withdrawals will be limited.

Some banks will be closed altogether, and others will be forced to merge. Both moves will result in thousands of job losses.  Specifically, deposits of more than 100,000 euros at the Bank of Cyprus will be frozen while officials decide how much those deposits will be taxed.

But, without funds to pay employees or suppliers, Cypriots in business claim they have already been injured eu-imf-rape-cyprusirrevocably.  Cyprus has the world’s 10th largest shipping industry.  An official for EDT Offshore shipping says:  “This is destructive for us.  We have to pay our crews salaries and that $ 500,000 . . . and we don’t have access to our bank accounts.”

While he walked back his words a few hours later, Jeroen Dijsselbloem, the Dutch chairman of the eurozone, reportedly told the U.K. Telegraph, “. . . The new policy will alarm hundreds of thousands of British expatriates who . . . have transferred their savings, . . . and other assets to eurozone bank accounts in countries such as France, Spain and Italy.”  Thus, he may ‘tax’ them as well.

Only very secondary news sources state the truth on this matter outrightly.  As Mike Adams of Health Ranger headlines:  “Cyprus Bank Bailout Agreement is Pure Theft: 40% of Private Deposits to be Looted From Selected Accounts.”

Truly, this is a sign of the end-times, when world leaders legitimize theft. As Bible prophecies promise:  “Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; . . . (Isaiah 5: 20).”

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