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Cyprus passes two of the measures necessary to secure a €10B bailout. Notably, the Cypriot...

Cyprus passes two of the measures necessary to secure a €10B bailout. Notably, the Cypriot parliament has approved the use of capital controls, which may limit the amount depositors can withdraw once banks reopen. The measure may also restrict fund transfers, limit debit card transactions, and ban redemptions of time deposits, among other possibilities according to The Guardian.
Comments (8)
  • The Patriot
    , contributor
    Comments (320) | Send Message
     
    Regardless of the outcome, my confidence in the saftey of my
    deposits will never be the same.
    22 Mar 2013, 05:28 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    The world banking system just took a big hit this week, and they are too stupid to see it.
    22 Mar 2013, 05:53 PM Reply Like
  • Hendershott
    , contributor
    Comments (1473) | Send Message
     
    Mountain out of a molehill.
    22 Mar 2013, 06:36 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Butterfly effect. Confidence is tricky emotion.
    22 Mar 2013, 07:27 PM Reply Like
  • Hendershott
    , contributor
    Comments (1473) | Send Message
     
    If you don't keep your money in a bank, where do you keep it?
    22 Mar 2013, 07:55 PM Reply Like
  • Topcat
    , contributor
    Comments (406) | Send Message
     
    Well, in U.S. I don't think something like this will ever happen. But, cash is insured up to $250k per person.
    22 Mar 2013, 08:12 PM Reply Like
  • Hendershott
    , contributor
    Comments (1473) | Send Message
     
    Temporarily, we could go back to the $100k FDIC level. You'd just need more bank accounts.
    22 Mar 2013, 08:14 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Topcap, I agree its not likely tomorrow, but in the end all dictators take the savings of the middle class. Politically it's hard to control the middle class. The lower class, yes, they have to vote for handouts, the upper class yes, they have to vote to keep their ill gotten gains. The middle class not so much.

     

    Read some history, it has happened every single time. Make no mistake about it we are moving quickly to a political dictatorship. The media and the education system have already decided on a single party winner. If we don't wake up and embrace the value of the two party system to protect us from government then we are doomed.

     

    If judges and congress don't wake up and figure out they are becoming irrelevant then we are doomed. In the name of the children voters are going to destroy America.

     

    All politicians are evil and its time the media gave up this love affair with the "do no wrong" Democrats, so we can get this country back on track.

     

    I can't believe anyone would support the "we have to pass this bill to see what is in it" Pelosi. Now we have seen, and its all bad.
    23 Mar 2013, 08:25 AM Reply Like
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