Some reports and many rumors on internet claim that there is a broader plan to impose bank deposits levies also in other countries, irrespectively of whether these countries will seek a bailout or not. Depositors funds could be used to bail out banks, so to say.
Are you afraid that you may have to see your bank deposits get plundered, undergo a ‘haircut’ Cyprus-Style?
PS I would appreciate your responses incl the country you live in, if possible.
I have bank accounts in Greece and Holland. But I really can’t be bothered since I left all the money I once had in the capable hands of the Greek government.
Thumb up!!!
No bank account, no money. Life is simple 🙂
Yes I do fear that the Danish government will get a similar “good” idea and increase the tax we already pay in Denmark… I will start to buy gold.
thankls for answering Susanne.
Anybody who has been paying attention will be nervous of their government’s intentions. Unfortunately the vast majority of people in Britain seem to have no interest in anything which requires them to think for themselves.
I agree with Susanne F, started buying gold a while back.
Dear ‘Annoyed’..my comments were already in moderation when you added yours…I agree with your comment “..the vast amount of people in Britain..” as a resident for quite a few years, in Crete, and a customer of The Bank of Cyprus, whose income comes from the UK..financially I am bitten twice! But it is true Brits are far too influenced by sensation driven headlines..they do not appreciate their own situation – let alone those of other countries.
UK savers have had a haircut for 5 years, standard deposits only have a ‘half percent’ interest to keep borrowing costs low. British taxpayers have also been obliged to ‘save’ three bankrupt banks in return for useless shares and another bank was allowed to go bust. 200 thousand public sector jobs have gone…4000 police in London alone. Public sector salaries have been frozen for three years. Pension funds have been cut and retirement for men and women raised to 67 years. Despite this we lost our ‘triple A’ rating last month. The government have devalued the pound three times during this crisis and the UK and it’s taxpayers are still in a black hole of debt.
Oh and I forgot, how could I that UK inflation continues to annually exceed the desired/stipulated/demanded EU inflation rate!
UK citizen, spend most of the year working (for minimum wage) in the UK, and part of the year in Greece. Stopped leaving money in Greek banks 2 years ago, now thinking SERIOUSLY about withdrawing savings in UK bank and keeping it under my mattress
Even though the portuguese FinMin has guaranteed that such thing will not happen, so many things he said wouldn’t happen did really happen not long after his promises… So yes, I’m afraid it might take place, since expense is getting higher than revenue…
Money in US banks where it’s safe. If USA banks collapse, world would be in great peril anyway so best to keep in USA if possible.
Money is safe only because US Government “guarantees” it. But US Government is getting writer’s cramp from all the IOUs it is signing.
We are over $16,700,000,000,000.00 in debt and sinking fast. Where is the point of un-sustainability? You will know when you get just past it. There will be no ground under your feet.
USA
William, I’ve heard many others say that, but what I’m curious is how does that play out if the US sinks? I had this vision of it taking the world to war and the result is not pretty. So, I’ve wondered in the grand scheme of things is if USA is not correct. You might as well keep it in the most powerful country in the Western World (note not world) and at least it will take awhile to go from Cyprus, Greece and make it’s way to USA getting bankrupted officially. If you’ve got some ideas on how the USA collapsing could work out logistically, that part I have not been able to get anyone to speculate on.
Are the EU banksters taking over the entire planet?
I don’t want to post any links, but go to The Daily Star (Lebanon)and read the article “EU tells Egypt to do better on reforms, or face aid cuts”.
Is there a country in this entire world that the EU is not running?
God help us.
I live in Spain. The banks are in a horrible mess. Yes, I am slowly emptying my account into my safe. Best before the rush. I have to give 3 days notice to get more tan 3,000 Euros. Money supply is tight.I suspect that most people do not realize how tight it is.
in some banks here there is notice days before withdrawing more than 3000 EUR
Answer: Yes!
Country: Greece
What little savings I have are on deposit in the UK. Used to have it here in Greece but couldn’t take the risk of Greece leaving the Euro and devaluing which would have cut the relative value by at least 40%.
UK interest not worth having but at least it’s (comparatively) safe.
Meltemian, have you forgot about Barclays? And Lloyds? Money’s not safe anywhere — at least as long as the EU (and the US) are decided to get it all. Alexis Tsipras said recently (hope to quote him correctly) that the moment one country gets out of the EU, that will be the day Germany will have to return to the Mark. And we, portuguese, to the Escudo, the spaniards to the Peseta, Italy to the Lira and so forth… It was a pity Cyprus wasn’t the first to give that step.