Cyprus-Forum.com

[Kikapu]

Wheres the EU Kikapoo???? your great EU principles appear to causing a great number of the problems for the GCs.

A little knowledge can be very dangerous with you!

What does the EU Principles needed for a settlement in Cyprus has anything to do with the financial crises of the Euro, ECB and the IMF?

You have been caught with your trousers down, it has everything to do the principles because it is the principles of this worthless Union which has brought you to collapse the principles you peddle are worthless in times of crisis..all you are doing is back peddling to save any morsle of credibility you may of had left.

You are still confusing the EU with the Euro, ECB and the IMF.

[danny1234]

Wheres the EU Kikapoo???? your great EU principles appear to causing a great number of the problems for the GCs.

A little knowledge can be very dangerous with you!

What does the EU Principles needed for a settlement in Cyprus has anything to do with the financial crises of the Euro, ECB and the IMF?

You have been caught with your trousers down, it has everything to do the principles because it is the principles of this worthless Union which has brought you to collapse the principles you peddle are worthless in times of crisis..all you are doing is back peddling to save any morsle of credibility you may of had left.

You are still confusing the EU with the Euro, ECB and the IMF.

They are all interconnected and the reason you have been brought to your knees is your banking system is 6 to 8 times your GDP and no system can handle that, you are a bank with a beach attached, a nice beach granted but just a beach.

[cyprusgrump]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

[sven]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

so has all money in a current account been seized ?

I read what is in red as the seizure of all money in current accounts, the accounts have been converted to time deposit account, you can not end a time deposit account early, and the time deposit account is automatically renewed. They have stolen 100% of peoples money.

[danny1234]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

lol and that was better than the original proposal, good grief, I would rather have lost 10% of my money and then done what I want with it. This is just robbery and morally wrong in so many ways, God I didn't think your Government could get any more corrupt but they have just surpassed themselves. They are robbing all your money instead of the 6/10%.

[userfromgermany]

In Germany the official guarantee was previous only 20k EUR. So I would not believe into the 100k EUR.

[cyprusgrump]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

so has all money in a current account been seized ?

I read what is in red as the seizure of all money in current accounts, the accounts have been converted to time deposit account, you can not end a time deposit account early, and the time deposit account is automatically renewed. They have stolen 100% of peoples money.

Agreed - that is how I read it too...

[sven]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

so has all money in a current account been seized ?

I read what is in red as the seizure of all money in current accounts, the accounts have been converted to time deposit account, you can not end a time deposit account early, and the time deposit account is automatically renewed. They have stolen 100% of peoples money.

Agreed - that is how I read it too...

for reasons of public order and safety

as far as i see it, they have just created a very dangerous situation, this is pure provocation, what are they farking thinking off, my mums out there, and now I'm worried, what the fark do you buy food with, Cyprusgrump, forgive for questioning this, but how certain are you of this info, because if it is true the shit is about to hit the fan, big time.

[Jerry]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

so has all money in a current account been seized ?

I read what is in red as the seizure of all money in current accounts, the accounts have been converted to time deposit account, you can not end a time deposit account early, and the time deposit account is automatically renewed. They have stolen 100% of peoples money.

Agreed - that is how I read it too...

How on earth can any business function with restrictions like these? Better take 10% plus from all over 100k and be done with it. The offshore Cyprus banking industry is finished anyway.

[GreekIslandGirl]

What capital controls mean

We now have details of the 'capital controls' which Cyprus intends to vote into law (sometime) today, thanks to star blogger @YiannisMouzakis:

It's a remarkable set of restrictions on the usual nuts and bolts of the financial system - particularly given the final point:

Restrictions in daily withdrawals
Ban on premature termination of time savings deposits
Compulsory renewal of all time savings deposits upon maturity
Conversion of current accounts to time deposits
Ban or restrictions on non cash transactions
Restrictions on use of debit, credit or prepaid debit cards
Ban or restriction on cashing in checks
Restrictions on domestic interbank transfers or transfers within the same bank
Restrictions on the interactions/transactions of the public with credit institutions
Restrictions on movements of capital, payments, transfers
Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety

so has all money in a current account been seized ?

I read what is in red as the seizure of all money in current accounts, the accounts have been converted to time deposit account, you can not end a time deposit account early, and the time deposit account is automatically renewed. They have stolen 100% of peoples money.

Agreed - that is how I read it too...

How on earth can any business function with restrictions like these? Better take 10% plus from all over 100k and be done with it. The offshore Cyprus banking industry is finished anyway.

It's a sad day when so many people (see above) believe a "blogger", now re-posted here as "policy" by an anti-Cypriot, anti-EU scaremonger.