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Cyprus Confiscates Govt Insured Bank Deposits

Sunday, March 17, 2013 - 2:04 AM
The Cyprus govt imposed a levy or tax on govt insured bank deposits, ranging from 6.75% to 9.9% depending on the amount of money you have deposited in their banks. Of course, it could never happen in the US - or could it?

http://www.forbes.com/sites/timworstall/2013/03/16/the-cyprus-bank-bailout-could-be-a-disastrous-precedent-theyre-reneging-on-government-deposit-insurance/

http://www.globalpost.com/dispatch/news/afp/130316/cyprus-shellshocked-savings-tax-imposed-eu-bailout
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loulou521 posts since
Aug 3, 2010
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1. Sunday, March 17, 2013 - 2:06 AM
Oops - just noticed previous post regarding this subject.
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loulou521 posts since
Aug 3, 2010
Rep Points: 3,239
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