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Cyprus Postpones Debate
on Deposit-Tax Proposal

Wall Street Journal, by Jenny Paris and Matina Stevis

Original Article

Posted By:pineledger, 3/18/2013 8:47:25 AM

Cyprus postponed for yet another day an emergency parliamentary session to discuss a bailout plan that will see the country´s bank depositors share part of the burden, the house speaker said Monday. The Cypriot parliament is now scheduled to meet Tuesday at 1600 GMT, house speaker Yannakis Omirou told reporters. The parliament had been due to meet Monday at 1400 GMT as the government sought to push the levy through parliament before banks reopened Tuesday after a three-day bank holiday. The vote delay means that the bank holiday will likely be extended for at least another day.

Comments:
Does this Bank Holiday tactic remind anyone else of the Christmas Eve surprise we all got in 2008?

      


Post Reply  

Reply 1 - Posted by: cartcart, 3/18/2013 8:54:44 AM     (No. 9230639)

There may be a run on the banks.

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Reply 2 - Posted by: WAN2, 3/18/2013 8:55:19 AM     (No. 9230640)

This is kinda blatant. The IRS has better strategies for getting our money.

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Reply 3 - Posted by: jimK1, 3/18/2013 9:51:31 AM     (No. 9230738)

If the fed can get its wish of no real money, just electronic money, we can be "taxed" at any time the government deems necessary. If Cyprus goes ahead with this, plan on seeing it at your neighborhood bank soon.

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Reply 4 - Posted by: OhMy, 3/18/2013 11:39:24 AM     (No. 9230981)

Here we go. Pope Francis ran into this in Argentina, what will he say now when the austerity measures come to Italy. This is already being discussed. This sort of draconian measure is made necessary by the spending which is already done and nobody can be sheltered from the cost of it. America is not exempt Obama is making this inevitable every day!

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Reply 5 - Posted by: whyyeseyec, 3/18/2013 11:54:08 AM     (No. 9231025)

We in the U.S. would have our money taken first, then told about it afterwards....

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