The post you are reporting:
While we do have several threads running on this topic, this one appears the most appropriate for the latest update:
A 100% confiscation on Cypriot bank savings above 100,000 euro looks very much on the cards:
From Before it's news:
"Bank of Cyprus savers will see 37.5 per cent of any deposits over €100,000 (£85,000) converted into shares in the bank, with a strong possibility that these will prove worthless.
Another 40 per cent will be repaid only if the bank does well in future,
while 22.5 per cent will go into a contingency fund that could be subject to further write-offs.
Laiki Bank customers are also reported to be facing the loss of 80 per cent of their deposits above the £85,000 limit."
These figures have appeared in separate sources compiled by various analysts and are based on the official EU-IMF bailout deal.
In essence, the part of savings converted into shares may be a hoax, as the shares are currently worthless, and probably will remain so.
And as for the 40% that would be given back to the savers, the two main banks in Cyprus are not obliged to repay it if they do not "do well enough", which is a most likely feasibility.
As for the contingency fund, it follows the same reasoning: it may never be paid back if the banks do not come out of the red.
Alarm bells should ring here, as Spain's Bankia converted depositors savings into shares in 2011, which were worth 3.75 euro each, but now are worth 1.5 cents (yes, one and a half cents).
Those savers in Spain's Bankia who converted their deposits into shares following a massive bank bailout, have lost all those deposits.
The EU is not telling us anywhere near the whole truth, nor half of it, or even a fraction of it.
This is very much a 100% confiscation above 100,000 euro (£85,000), and conversions to bank shares mean total confiscation.