Cyprus brokers and the EU bank bailout haircut

[TaeKim]

If anyone has successfully withdrawn cash (or had problems withdrawing cash) from a broker based in Cyprus in the past week, please share some info.

And is it just Euros that will be taxed in Cyprus or are they considering USD, GBP and any other currency?

 

[Atilla]

Could be a smoke and mirrors job and poooof the money disappears.

Right up banker's street. With enough to buy off any investigation.

Quicker than Splitt can work out how many oranges for a kilo

P.S. All the park benches round here are occupied.

All the benches around Trafalga Square were occupied once too and then they decided to get a hawk to clear them off.

 

[Splitlink]

Could be a smoke and mirrors job and poooof the money disappears.

Right up banker's street. With enough to buy off any investigation.

Quicker than Splitt can work out how many oranges for a kilo

P.S. All the park benches round here are occupied.

I was talking about the Barcelona park benches, I would not freeze my balls off on a UK park bench,

 

[jungles]

so, it looks like its going to be a 20% tax........who's next?

 

[pboyles]

so, it looks like its going to be a 20% tax........who's next?

I see Boris Berezovsky is dead. Any good conspiracy theories, did Merkel kill him?

Russian oligarch Boris Berezovsky found dead in his bath - Telegraph

 

[pboyles]

I bet the average Gerry is pretty plssed off working hard and having to carry the rather useless Southern countries. Must be all that lazing about in the sunshine - definately a no no for work it seems. That cash disappeared from the Cyprus banks. Why noone asks who got it I don't know. Embezzlement maybe ?

It's Jerry, Gerry's are the Irish, like Gerry Adams or Gerry Fitt (if you're old enough).

 

[Lightning McQueen]

If anyone has successfully withdrawn cash (or had problems withdrawing cash) from a broker based in Cyprus in the past week, please share some info.

And is it just Euros that will be taxed in Cyprus or are they considering USD, GBP and any other currency?

well i don't know about withdrawing cash from them. but i did notice a deposit free bonus disapear shortly before the crisis hit, it went awol for a while but i logged on today and noticed it's back.

 

[Atilla]

I see Boris Berezovsky is dead. Any good conspiracy theories, did Merkel kill him?

Russian oligarch Boris Berezovsky found dead in his bath - Telegraph

Shock of losing 10% of his savings in the Cyprus bailout I reckon???

Actually, the 10% probably hospitalised and the 20% tipped him over the edge.

 

[Splitlink]

Shock of losing 10% of his savings in the Cyprus bailout I reckon???

Actually, the 10% probably hospitalised and the 20% tipped him over the edge.

Well, Atilla, you are laughing, but it would not take too many, like him, to break the Cyprus economy, would it?

Too many eggs in one basket, perhaps?

Take that Polly Peck person. He lived there, spent his money there and then he changed his address to Wandsworth. He must have made a difference and if all those Russians lived there, how many of the very rich ones have moved out?

 

[Atilla]

Well, Atilla, you are laughing, but it would not take too many, like him, to break the Cyprus economy, would it?

Too many eggs in one basket, perhaps?

Take that Polly Peck person. He lived there, spent his money there and then he changed his address to Wandsworth. He must have made a difference and if all those Russians lived there, how many of the very rich ones have moved out?

Didn't we have the same in Iceland - offering 6% and then Cyprus offering 7%??? Rest of World offering 2-3%. High risk / high interest!!!

Most rich people pay little or no tax anyway. Big shady deals with very little real work done. Everybody says why should I pay tax if the politicians and rick people don't??? Fair point. Tax bank deposits on everybody at the same flat rate and have done with it.

Check these links out
http://www.blevinsfranks.com/en/content/316/cyprus?gclid=CPKw_4z6lLYCFUTItAodfBMA6g


Corporate tax in Cyprus
Joining the EU in 2004 placed Cyprus as one of the most attractive business destinations in Europe.
The tax rate for Cypriot companies is 10%, which is one of the lowest rates. This rate is applied on all profits generated worldwide from the Cypriot company. If the company is operated solely as a “holding Company” (to hold shares of other companies); it will not be taxed.
Accounting and auditing is compulsory every year.
To obtain a Cypriot tax identification number, it is required that most directors reside in Cyprus. SFM may provide local directors, through its nominee director service.


I reckon you've got to laugh Splitlink. Iceland, Ireland and Cyprus - not much difference between them at all. In contrast France, Spain, Italy and Portugal aren't half as bad imo.

It will all come good soon enough and I'm still optimistic about our rosy future

 

[Splitlink]

I reckon you've got to laugh Splitlink. Iceland, Ireland and Cyprus - not much difference between them at all. In contrast France, Spain, Italy and Portugal aren't half as bad imo.

It will all come good soon enough and I'm still optimistic about our rosy future

Have you noticed that all those countries are small, population-wise? Perhaps all bank accounts divided by the population would give a clue of a top heavy situation for future investors? Just thinking. But there must be a rough guide for laymen to work ut whether a country is a safe situation, or not.

Spain, definitely, depended mainly on construction and tourism. Construction went on for some time, until it became apparent that people had stopped buying. Consequently, we have about 200,000 dwellings empty. The UK, on the other hand, always seem to be 200,000 short.

In my area there is a 30 year old building, that used to be a 4 star hotel, that has been stripped to bricks and mortar and is derelict. Heaven knows how much money was spent on that. Now it costing money in security, to stop the homeless moving in, and the owners must be waiting for a buyer to redevelop it.

 

[Pat494]

Have you noticed that all those countries are small, population-wise? Perhaps all bank accounts divided by the population would give a clue of a top heavy situation for future investors? Just thinking. But there must be a rough guide for laymen to work ut whether a country is a safe situation, or not.

It could be summed up by just 2 words imho

Competency and integrity !!

Both sadly lacking in many countries where big money lurketh.

 

[Pat494]

I see Boris Berezovsky is dead. Any good conspiracy theories, did Merkel kill him?

Russian oligarch Boris Berezovsky found dead in his bath - Telegraph

SMERSH I reckon did him in. The femme fatale ( the ice maiden ) got him into the bath and ...............X?/@#}{^ goodnight Boris

 

[Atilla]

Have you noticed that all those countries are small, population-wise? Perhaps all bank accounts divided by the population would give a clue of a top heavy situation for future investors? Just thinking. But there must be a rough guide for laymen to work ut whether a country is a safe situation, or not.

Spain, definitely, depended mainly on construction and tourism. Construction went on for some time, until it became apparent that people had stopped buying. Consequently, we have about 200,000 dwellings empty. The UK, on the other hand, always seem to be 200,000 short.

In my area there is a 30 year old building, that used to be a 4 star hotel, that has been stripped to bricks and mortar and is derelict. Heaven knows how much money was spent on that. Now it costing money in security, to stop the homeless moving in, and the owners must be waiting for a buyer to redevelop it.

Same in London. Empty office spaces waiting to be converted into living accommodation - flats. Pending council approving planning permission and change of status of-course. Probably take couple of decades.

Probably do wonders for the City as it is dead in the weekends. Opportunity everywhere. Only a matter of time.

 

[Pat494]

Hey Splitt ( hope he is still talking to me ) what is the price of an average 4 up and 4 down these days in Spain ?

 

[JSMITH07611]

why don't the cyprus people take their debit card and deposit (with card payment) their total bank balance in a forex account in a different country or a gambling site. even a payapl transaction of their full balance. they are only limited on withdrawel from cash machines and not on payments from debit card.

I suppose if they had enough brains to do this they wouldn't be in trouble in the first place!

let me know your opinions

 

[Pat494]

why don't the cyprus people take their debit card and deposit (with card payment) their total bank balance in a forex account in a different country or a gambling site. even a payapl transaction of their full balance. they are only limited on withdrawel from cash machines and not on payments from debit card.

I suppose if they had enough brains to do this they wouldn't be in trouble in the first place!

let me know your opinions

I expect they have thought of that.
Why the people have to bail out the bank bosses, I don't know.
They are either too incompetent to be bosses or thieving the bank's money ?
Will their huge bonuses be clawed back or even cut this year ? I doubt it.
The usual fat cat rip off.

 

[counter_violent]

why don't the cyprus people take their debit card and deposit (with card payment) their total bank balance in a forex account in a different country or a gambling site. even a payapl transaction of their full balance. they are only limited on withdrawel from cash machines and not on payments from debit card.

I suppose if they had enough brains to do this they wouldn't be in trouble in the first place!

let me know your opinions

To withdraw monies from such an acct...they would have to be credited back to the bank acct that the initial payment came from.

Not sure what your point is here tbh.

 

[JSMITH07611]

To withdraw monies from such an acct...they would have to be credited back to the bank acct that the initial payment came from.

Not sure what your point is here tbh.

not with paypal to a freind in a different country.

secondly brokers such as saxo bank dont' have that policy nor do (others which i am not going to mention) secondly if your account is closed then they wont send back to the card. thirdly a lot have the policy that after 3 months they don't refund to the card) just for your knowledge. I am sorry that i have been in the business for about seven years

regards

 

[counter_violent]

not with paypal to a freind in a different country.

secondly brokers such as saxo bank dont' have that policy nor do (others which i am not going to mention) secondly if your account is closed then they wont send back to the card. thirdly a lot have the policy that after 3 months they don't refund to the card) just for your knowledge. I am sorry that i have been in the business for about seven years

regards

Still don't get what your on about !

Anyone else explain it in plain english~?