Bank account confiscation arrives in the EU – Cyprus first

‘Bank robbery Cypriot-style’

Up to 60,000 British savers face losing thousands each after £8.7billion EU bailout imposes tax on ALL bank accounts in Cyprus

  • Lines formed at ATMs as people scrambled to pull their money out
  • Word spread that rescue package included a one-off levy on deposits
  • Restrictions stopping people emptying accounts or moving money abroad
  • Up to 3,000 British service personnel are based on the bankrupt island
  • President Nicos Anastasiades agreed to raid with European finance chiefs 
  • Said country in ‘state of emergency’ and not acting would be ‘catastrophic’ 
  • But expats accused the island of ‘plain theft’ as violent protests sparked

By Simon Watkins and Alex Hawkes
PUBLISHED: 16:23, 16 March 2013 | UPDATED: 22:38, 16 March 2013
A spokesman for the Cypriot government said yesterday the agreement with Brussels was ‘serious but not tragic’ and said that the EU had wanted a much higher levy, but the government had fought hard against it.
He said: ‘The dilemma is whether we would have a functioning economy or total collapse on Tuesday… whether to give in at the 6.75 per cent mark or lose 100 per cent.’

Over the last few years political and financial leaders in Europe and the United States have implemented policies, regulations and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery.
What happened in Europe today is yet further proof that nothing they’ve done has fixed the underlying fundamental issues surrounding the events that led to the crash of 2008.
For those who don’t believe the government is prepared to take extreme measures that may include the seizing of retirement accounts, cash savings or even gold, look no further than Cyprus, the latest recipient of bank bailouts.
As of right now, citizens of Cyprus are scrambling to withdraw funds from their bank accounts after the EU, with agreement from the Cypriot government, announced they will decimate funds held in personal bank accounts to the tune of up to 10% of existing deposits.
You read that right.
The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every citizen in the country.

Restrictions have been imposed to stop people emptying their accounts or moving their money out the country after the Cypriot government announced that up to ten per cent of deposits will be seized and used to bailout the island’s crisis-hit banking system.
The deal with other eurozone finance ministers is the first time that ordinary citizens’ deposits have been directly raided in this way.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines. 

‘Why would you risk putting your money in Greek, Spanish or Portuguese banks after this?’
British expats were stunned by the news, with many left high and dry by the restrictions on accounts.
Cash machines had been working, but many ran out of notes because of the panic withdrawals.

But financial experts said the raid – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.
If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the  banks.
Source: Daily Mail

The Tap Blog is a collective of like-minded researchers and writers who’ve joined forces to distribute information and voice opinions avoided by the world’s media.
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5 Responses to “Bank account confiscation arrives in the EU – Cyprus first”

  1. TPTB must have realised that this action in Cyprus would cause people across the entire EU to consider withdrawing their funds from the corporate banks.

    Maybe they are trying to cause widespread panic?

    Even those who have laughed at ‘conspiracy nuts’ for ages, must now be realising that all is not quite as it appears to be, to say the very least!

    From now on, if anyone ‘cracks a funny’ when I start to talk about these issues, I’m gonna quote these two gentlemen:

    “For we are opposed around the world by a monolithic and ruthless conspiracy that relies primarily on covert means for expanding its sphere of influence…

    …It is a system which has conscripted vast human and material resources into the building of a tightly-knit, highly-efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations…

    …Its preparations are concealed not published. It’s mistakes are buried not headlined. Its dissenters are silenced not praised…”

    JFK – he was murdered (silenced) within 2 or 3 weeks of making this speech.

    ============

    “The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists.”

    J. Edgar Hoover

    ============

    Read it and weep – anyone out there who still believe that everything is just dandy! It’s time to face up to a few unpalatable truths. More than a few. Quite a lot – in fact, just about everything is a lie!
    It’s time to address that Pavlovian response of instant disbelief and ridicule to any information received from a source outside of the corporate mainstream-media.

    I’m with JFK and J Edger Hoover. Who would laugh at them?

    Scotty

    NB My little rant is not really aimed at regular Tap readers, who all ‘know the score’…or should do by now!

  2. Anonymous says:

    Its quite obvious to all except the most dedicated sheeple, but what do we do about it?

  3. Julia says:

    Anonymous, there are things you can do. You can detach from the system, bit by bit, stop propping it up. You have to work out your own way….

    This Cyprus story is part of the future hoax. We think money, or even numbers in banks, are worth something to us. But all they are is a promise of something in the future. Something you may never get. And look who’ s making the promise! The banks! Do you trust their promises? We are persuaded to swap our labour today for a future promise. Over and over again.

    A smaller scale example is gift vouchers. People buy gift vouchers for presents. The shop, or corporation more likely, gets the money up front in exchange for no goods whatsoever. You could lose the gift voucher, it could expire, or the shop might close down. And then you have nothing in return.

    I think one way out of this is to cut down use of money. Do direct exchanges or share more with those around you. Live in the present, not the future. Money enslaves us, Jesus was against the money lenders for a very good reason, he did not want to see humanity enslaved.

    In my view, there is no monetary mechanism that works. Because money equates to buying people.

    See my post http://suliwrites.wordpress.com/2012/10/03/why-i-need-money/

  4. Julia says:

    The Australian government is poised to steal bank accounts that have not been used for 3 years after rushing through new legislation. Apparently it used to be 7 years. That’s interesting, I didn’t know there was ANY rule that said governments could claim unused bank accounts.

  5. Anonymous says:

    Our own gangsters, while under the guise of Noo Labour, were threatening to steal from dormant bank accounts, and that was at least 6 years ago.

    I think the satanic paedophiles are trying to force cash underground so they can bring in their “beastly” one world currency.

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