Draft Cypriot bill sees tax levy of 0% for deposits of up to EUR 20,000

This should be good news right

That all depends...if you have a deposit more than EUR20,000...then it's not good. They are still taking your money!

If I have 1 million euro it will needto split into 50 banks in order to escape from the tax levy. Rich ones will withdraw all money and flee away.

According to my feed, there's still:
"DRAFT BILL SEES 6.75 PCT LEVY ON DEPOSITS BETWEEN 20,000 AND 100,000 EUROS" & "CYPRIOT DRAFT BILL SEES LEVY OF 9.9 PCT FOR DEPOSITS ABOVE 100,000 EUROS"

So...it's mixed. Good news would've been if the sub 100k deposits would not be 'taxed', as would be the case under normal banking regulations, but I guess that would too much pressure on accounts above 100k, 15% or so.

Bad news would've been if the same regulations would've been kept in place. This is neither and just amounts to more muddling through.

When someone is talking about EU or Cyprus all I can hear is talking about bunch of idiots and thieves... I don't know why. Maybe some of you know it?

Instead of just sticking to what they say, and gettiing to a point and making a decision, they keep on confusing everyone and getting everybody worked up. At this point we cant trust anything they say up untlill the official annoucement. And I cant see them making it soon or in a constructive way cos they cant decide, do they bankrup themselfs first or the people of cypris. So far they havent mentioned a 3d option....

Shot a stone at a market and it will surely hit your relative

Don't know what it is about the 1.2930 level on e/u...maybe some type of option? But price just doesn't want to get too far away from it! Perhaps during the US Session

What many of you have not realised, is that if this Bill goes through then there is no end. The EU can easily then impose this levy to any other country.
It maybe your personal deposits next!!!
Cyprus is being used as a test ground.

The Bill will not pass. Simple as that.

I am speaking frm Hungary. If ministers are similar than in Hungary, it is really a Circus of clowns. I only hope it is not so!

why is everyone thinking any compromise on the deposit limit is a great result?
Theft is theft
If they even take one euro from accounts
Your money apparently is not yours it belongs to the state
Say they take 10% today from someone who has worked all there days, already paid the taxes on it ( So really its a retrospective tax) and they died tomorrow then there estate would also be hit for inheritance tax of say 40 %

The answer we need is where can you transfer your savings so they are 100% safe

Govts have never cared about the common people, that's what excessive tax is to begin with.. And yes all they want common people to do is pay taxes and work hard, they dont care about them..

This is what they want -

1. Get a Mortgage
2. Get in Debt
3. Work to pay your debts
4. Work to pay your taxes..

The only way to escape there plan is to become a minimalist, never get debts, never get a mortgage, never borrow, sell everything almost that you own and then move to a country that is better suited for you.. As a minimalist one does not even need to work hard..

Live a better life, get out of the debt cycle..

The banks and corporations started this mess and as we know throughout history is they never pay anything.. The common worker always does..

Looking for safer places to place your money currently, australia is the best answer.. backed by govt protection up to 250,000 but still nothing is 100% safe so diversify always..

Regards,