[Jimbuna]

Originally Posted by Skybird

Such assurances only hold ground if the disaster is extremely limite din size. When the mjaor part of a national bank envcriopnment goes down the drain, its just bits of paper then. The guarantees given for German savings at banks are sufficient for only 0.5 or 3.0% (I'm not sure which one it was) of customers' savings - and that was in 2009. Since then a great money devaluation has moved on, and more money was flooded onto the market.

Needless to say that the state giving such guarantees is a customer of the banks, and that the money such guarantees will be compensated with is just more of this wonderful thing called FIAT money.

It's all just a big illusion show to keep the mob silent in the street.

I still wonder in what way Cyprus is system-relevant,m and in what way the Cypriotic government can assume that other people owe it to them to pay for their corruption, incompetence and mismanagement. It was the Cypriotic people voting them into power, and they share the responsibility of what is being done in their name, therefore.

And why the heck have people from Greece and Britain, or any foreigners at all, moved their saving from their country to banks in - Cyprus? It's not as if the situation in Cyprus was not known since years, eh? No risk no fun, or what? My sympathy is limited. Very.

I have talked my parents into taking their savings from the bank and hide them well privately. Interests are so lousy here that the small raise in additional expropriation resulting from not even getting this caricature of an interest rate does not count anyway. Having savings on your bank these days means you get robbed, slowly, but constantly. and if the system fails over night, you cannot take it from the bank. That is a top level concern these days, I think. Even in Germany. Because if something really bad happens, then it will happen fast, unfolding within hours. The hour you notice that prices for good and items, property and real values explode suddenly, it will already be too late for almost everybody. And if the crash is politically wanted, you do not even get that warning time.

I think your misunderstanding me...I meant compensation for the levy only. Some of the service personnel have their wages paid direct into their Cypriot bank accounts and it is highly unlikely any will have vast sums in their accounts.

I read somewhere that it is estimated £170 million is the most a compensation payout total would be.