The Cyprus situation.

Not looking good for our ex-pats who have made a new home for themselves in Cyprus. Their government are trying to rush through measures to tax everyone living in Cyprus who has a bank account with more than 100,000 Euros deposited. The banks are currently closed until Thursday preventing customers doing a raid on the banks similar to what happened to Northern Rock.

The tax/levy that has been mentioned is 10% and is being rushed through under EU emergency measures.

Personally, I think it's a bit rich pulling a stunt like this. If they can get away with it in Cyprus, what is to stop them pulling a similar stunt anywhere in Europe ?

You work hard all your life and decide to retire to a sunnier climate to see out your twilight years and the Government can take 10% of your life savings at the drop of a hat? As far as I'm concerned it's bloody theft.

Is Cyprus not a British Ruled island? Kind of like the Falklands is?

Is this not something Thats been sanctioned by our government to raise yet more austerity funds?

Im probably wrong, im asking because I genuinely Dont really know.

Reebok_Rebel wrote:

Is this not something Thats been sanctioned by our government to raise yet more austerity funds?

Seek help Rebel, you blame David Cameron for everything. Are you sure he didn't score the winner for Ipswich at the weekend?

Cyprus is actually governed by Greece, hence why it comes under the EU emergency fiscal measures.

Do they not have internet banking in Cyprus?

Yes but somehow all the Russians with big savings found out about it and withdrew 2 BILLION pounds before the banks closed - before the new tax was announced to anyone else. How did they know?

RT, Cyprus isn't governed by Greece, its an independent sovereignty, (gained from the UK in 1960). However, they ally themselves with Greece, and tend to manage all their policies with a nod and a wink at Greece. This current crises has been brought on by Cyprus lending vast amounts of money to Greece, which as we all know, disappeared down the Euro blackhole. Britain 'owns' two areas within Cyprus, called [email=SBA@s]SBA's[/email] (Sovereign Base Areas), which are at each end of the island. The Estern SBA contains Dhekelia Garrison, and its surrounds, including a base near the Turkish border, 4 miles from Famagusta, and the Western SBA , near Limassol, which includes Episkopi Garrison, and RAF Akrotiri.

Cheers Glos, what I meant was that part of Cyprus was Greek, which allowed it to join the EU in 2004.

It is estimated there could be as many as 80,000 ex-pats from Blighty living there at the moment.

gloswhite wrote:RT, Cyprus isn't governed by Greece, its an independent sovereignty, (gained from the UK in 1960). However, they ally themselves with Greece, and tend to manage all their policies with a nod and a wink at Greece. This current crises has been brought on by Cyprus lending vast amounts of money to Greece, which as we all know, disappeared down the Euro blackhole. Britain 'owns' two areas within Cyprus, called [email=SBA@s]SBA's[/email] (Sovereign Base Areas), which are at each end of the island. The Estern SBA contains Dhekelia Garrison, and its surrounds, including a base near the Turkish border, 4 miles from Famagusta, and the Western SBA , near Limassol, which includes Episkopi Garrison, and RAF Akrotiri.

Thanks for this Rammy.

I know we had 'some' involvement/interest in Cyprus as one of my friends was based there for about 2 years with the RAF (apparently they keep several Eurofighter typhoons, about 15 Tornadoes, support equipment, a shitload of troops, 2 destroyers and the related armaments there)

The brits like to protect their soil...

jayjay23 wrote:Yes but somehow all the Russians with big savings found out about it and withdrew 2 BILLION pounds before the banks closed - before the new tax was announced to anyone else. How did they know?

Smells a little fishy to me. I have been to Cyprus a number times and love the place but I have noticed more and more Russians investing heavily over there. This is very dodgy if true.

Strangely enough, Russia is not part of the EU so I'm not certain that the Cypriot authorities could get hold of Russian investors cash. Nevertheless, it does look very suspicious that they got wind of it before everyone else.