Ronnie Biggs must wish he had become a eurocrat rather than a train robber since the scale of plunder is so much greater;
Savers with over 100,000 euros deposited in the Bank of Cyprus could now be hit for losses of up to 60 per cent, according to a central bank official and a senior finance ministry technocrat. The officials, who spoke on condition of anonymity because they’re not authorized to publicly discuss details of the issue, said deposits over 100,000 euros at the country’s largest lender will lose 37.5 percent of their value after being converted into bank shares. They said that savers could then lose up to 22.5 per cent more, depending on an assessment by officials who will determine the exact figure aimed at restoring the troubled bank back to health.
So, 60% of your savings TAKEN in order to protect the Euro! Wow.
And if they can get away with it in Cyprus, they can do it anywhere. The precedent has now been set and the EU has established that it can raid YOUR deposits to the staggering scale of 60% in order to secure its own political agenda. The bit that disturbs me is the relative acquiescence of so many to this institutionalised theft. Those who are prudent, who save wisely, who invest well and who behave legally, are now the main prey of the Euro-elite.