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Old 16-03-2013, 23:34   #1001
nomadking
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Re: Eurozone will collapse...

It's possible that Cyprus has been seen as a special case.
Quote:
It appears that the heavy presence of Russian money in Cypriot banks was a factor in imposing the levy.
...
According to Reuters news agency, almost half of the depositors in Cyprus are believed to be non-resident Russians.
This 'wealth tax' will have to come from the capital that the banks have to set aside. Unless the banks have been sitting on excessive amounts of non-invested cash, then the cash taken will have to be replaced. Then there is what is going to happen on Tuesday, when large numbers of people withdraw their money.
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