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I don't think you are wrong for suggesting this, however, a great chunk of that money that they plan to take belongs to foreign investors and individuals. Is it fair that they pay for the down payment?
Why not? If you make a bad investment it shouldn't cost you?
Granted, it does seem the position our government has taken also but the idea is one that in the end is going to fail.
I don't think people are saying they shouldn't. I think what people are saying is that, when government says, "we are going to tax the money in your bank account at 3% tomorrow" it creates a bank run like you saw on its a wonderful life. Those aren't good things.
There were other options, that wouldn't have created a bank run
There are. They could have done what should have been done years ago and had those who invested in the debt take the loss. For some reason this seems to be the last resort.
I don't think you are wrong for suggesting this, however, a great chunk of that money that they plan to take belongs to foreign investors and individuals. Is it fair that they pay for the down payment?
Quote:
Originally Posted by pknopp
Why not? If you make a bad investment it shouldn't cost you?
Granted, it does seem the position our government has taken also but the idea is one that in the end is going to fail.
Sure, if you make a bad investment......but they aren't losing it in the market, the German government has decided that a percentage of their money is going to help bail out some banks. I just don't understand how some are so nonchalant regarding the fact that the government is attempting to seize money from banks, to help bail out banks. Most of the money it will acquire is not from Cypriots at all, it's from non-EU persons and corporations. I am not here screaming, "It's not fair", but rather, they don't care who pays, as long as someone pays for the ever-failing Euro. It doesn't matter if you are a part if it or not, this should set off alarm bells. My personal opinion is that if Cyprus wants the bailout, then Cypriots have to pay. Tell me this, why are British servicemen exempt from this seizure if investing in their banks is a risk?
Sure, if you make a bad investment......but they aren't losing it in the market, the German government has decided that a percentage of their money is going to help bail out some banks. I just don't understand how some are so nonchalant regarding the fact that the government is attempting to seize money from banks, to help bail out banks. Most of the money it will acquire is not from Cypriots at all, non-EU persons and corporations. I am not here screaming, "It's not fair", but rather, they don't care who pays, but as long as someone pays for the ever-failing Euro. It doesn't matter if you are a part if it or not, this should set off alarm bells. My person option is that if Cyprus wants the bailout then Cypriots have to pay. Tell me this, why are British servicemen exempt from this seizure if investing in their banks is a risk?
It's not just banks. It's their entire economy.
I have no idea all the specifics but the only way to make changes is internally.
Sure, if you make a bad investment......but they aren't losing it in the market, the German government has decided that a percentage of their money is going to help bail out some banks. I just don't understand how some are so nonchalant regarding the fact that the government is attempting to seize money from banks, to help bail out banks. Most of the money it will acquire is not from Cypriots at all, it's from non-EU persons and corporations. I am not here screaming, "It's not fair", but rather, they don't care who pays, as long as someone pays for the ever-failing Euro. It doesn't matter if you are a part if it or not, this should set off alarm bells. My personal opinion is that if Cyprus wants the bailout, then Cypriots have to pay. Tell me this, why are British servicemen exempt from this seizure if investing in their banks is a risk?
Quote:
Originally Posted by pknopp
Why not? If you make a bad investment it shouldn't cost you?
Granted, it does seem the position our government has taken also but the idea is one that in the end is going to fail.
Quote:
Originally Posted by pknopp
It's not just banks. It's their entire economy.
I have no idea all the specifics but the only way to make changes is internally.
That's rather vague. I understand how things are functioning over there enough, but I thought you were arguing for the seizure? Anyway, if they don't get the bailout the house of cards falls and all of that foreign money exits Cyprus. If EU seizes the proposed 6 billion, and the banks get bailed out, panic will spread, the foreign money will leave Cyprus, (Singapore bound?), and who knows.
I'll again bring up the fact that many are standing by the premise that these banks offered high returns and should be considered investments. By participating in an investment, you bear some risk, so why are the British servicemen exempt from the seizure?
a disgusting attack on the people of cyprus , of course you can do anything to a tiny country like cyprus , safe in the knowledge that the rammifications will be limited to the overall scheme of things , no way would the powers that be in europe allow such a trick to be pulled in spain or even portugal
That's rather vague. I understand how things are functioning over there enough, but I thought you were arguing for the seizure?
I am asking why is it that there shouldn't be collateral on the loans they are seeking?
Quote:
Anyway, if they don't get the bailout the house of cards falls and all of that foreign money exits Cyprus. If EU seizes the proposed 6 billion, and the banks get bailed out, panic will spread, the foreign money will leave Cyprus, (Singapore bound?), and who knows.
I'll again bring up the fact that many are standing by the premise that these banks offered high returns and should be considered investments. By participating in an investment, you bear some risk, so why are the British servicemen exempt from the seizure?
Regardless of who caused the mess, bank accounts should simply be taboo. If the government wants to steal from people, they should raise taxes as usual.
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