Not just people in Cyprus, people everywhere. You must recall the running joke that it's safer to keep your money under your mattress than to put it in a bank.
Wouldn't this cause a complete loss of public confidence in banking institutions worldwide? On 18 March 2013 08:34, Cameron Childress <[email protected]> wrote: > > On Mon, Mar 18, 2013 at 6:17 AM, Jerry Barnes <[email protected]> wrote: > > > But it seems to have been mandated from powers outside Cyprus." > > > > It was. > > > If this precedent gets set, the long term effects may be worse than the > immediate effects. the potentials include. 1) People in Cyprus will be > reluctant to put any money in savings because now it could randomly and > unexpectedly be taxed. 2) People in all of the EU may become more reluctant > to save any money because now it could randomly be taxed (this was the EU's > idea right?). 3) As soon as an EU country's economy looks weak, there will > be a run on banks "just in case" they decide to resolve the problem by > taking away people's savings. > > This is really dirty stuff. I hope it doesn't happen. > > -Cameron > > ... > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:361942 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
