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Your banks are toast

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Your banks are toast

Postby appel » Thu Mar 21, 2013 3:54 am

I'm from Iceland and I speak from experience.

Your banks have absolutely no chance of surviving this. Once the pandora's box was opened it's all over.

The same happened in Iceland, and it took the banks a week to all go bust. But politicians kept saying they wouldn't. The state even lent the biggest and last bank to go bust a lot of money in that week to try to keep it a float, but it didn't do anything.

Once everybody consider the banks toast, they are. Even if you manage to raise enough money to solve current problem, it's not going to stop a run on the bank once they open, and they will eventually be run to the ground in a couple of days. All foreigners will instantly move their money out of Cyprus once the banks open, no matter what is said.



The only real solution to protect yourselves as a nation is to do two things:
1) move deposits to priority claims on the failed banks.
2) tax deposits beyond €100K before the banks go bust. Tax enough so that the state has enough money to pay out the €100K deposit guarantee.

This will ensure the state does not go bankrupt and ensure depositors get back maximum back in time.
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Re: Your banks are toast

Postby Oceanside50 » Thu Mar 21, 2013 4:52 am

how's the crop of herring this year.....and the new crop of Blondies.....
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Re: Your banks are toast

Postby GreekIslandGirl » Thu Mar 21, 2013 12:09 pm

appel wrote: Once the pandora's box was opened it's all over.


But in Pandora's box, we still have HOPE .... Elpis ( ελπίδα ).

(Iceland is the antithesis of Cyprus, btw)
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Re: Your banks are toast

Postby Svetlana » Thu Mar 21, 2013 12:28 pm

I am sure it is not true but my Financial Advisor (my gardener) has just told me Laiki Bank has 'gone under'...just another rumour I am sure :-(
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Re: Your banks are toast

Postby jonah » Thu Mar 21, 2013 12:33 pm

Svetlana wrote:I am sure it is not true but my Financial Advisor (my gardener) has just told me Laiki Bank has 'gone under'...just another rumour I am sure :-(

Bit of advice,get another gardener or financial adviser
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Re: Your banks are toast

Postby GreekIslandGirl » Thu Mar 21, 2013 12:39 pm

jonah wrote:
Svetlana wrote:I am sure it is not true but my Financial Advisor (my gardener) has just told me Laiki Bank has 'gone under'...just another rumour I am sure :-(

Bit of advice,get another gardener or financial adviser


Maybe Svetlana was hoping he would grow some money for her. :)
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Re: Your banks are toast

Postby supporttheunderdog » Thu Mar 21, 2013 12:39 pm

the demise of Cyprus Popular/Laiki bank has supposedly been on the radio.....

I also hear that Esso Fuel stations are closing down...
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Re: Your banks are toast

Postby Svetlana » Thu Mar 21, 2013 12:40 pm

Yes, he is not much of a gardener either.....
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Re: Your banks are toast

Postby jonah » Thu Mar 21, 2013 12:44 pm

Svetlana wrote:Yes, he is not much of a gardener either.....

Better idea,hire a financial adviser that knows a bit about gardening
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Re: Your banks are toast

Postby Sonnyboy » Thu Mar 21, 2013 12:48 pm

All we get on UK tv is politicians, economists and bankers spouting off - no news at all about how the lives of ordinary people are being affected.
Please keep us updated about what's happening in the petrol stations, shops etc. and the position with the cashpoints.
Amidst the rumours there will probably be some facts.

Good luck to everybody trying to go about their daily business in all this mess.
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