Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Peter, the Cyprus crew-cut is likely to become a precedent to many a country.
I just received my bank statement with an extra page explaining that all deposits with this banking group are covered for up to £85,000 per customer.
All accounts of one holder with any of the mentioned banks count as one deposit with a maximum coverage of that one mentioned sum in the case of the bank-group failing its obligations.
Clearly the bank has included this information page following the Cyprus confiscations.
I discovered that I am covered by the Bank of Scotland and the Scotland Treasury.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
Alexander, if you think that anyone is safe because their savings are underwritten by the £85,000 promise given by the government I think You may well find yourself disappointed when things start turning really ugly.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Come off it, Philip, surely the banks won't write off savings below £85,000!
Anyway, even if they did, I invested an important part of my financial asset in a new pair of shoes, so I wouldn't stand to lose financially.
I figured out that shoes come from China and India, as we don't make them here anymore. So if a crisis came and we remained without money, trade would stop. So I purchased a pair of shoes before they run out (no pun meant).
I shall purchase some candles just in case, considering that Gov. has left us on the verge of empty gas supplies and electricity generators may run dry.
My reserves of flour are dreadfully low, even though the back garden allows for a wood fire to bake bread.
I'm still wondering when my orchards project will be finally accepted by the Government.
Trees don't need money to grow fruit.
Just think, if the money runs out, trade collapses, and my Garden of England project was taken off the waiting list and put to practice, who would be a silly billy then?!
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Perhaps Local Gov. should put out directives that people with a back garden plant spuds, in case the banks do decide they have run out of money. There's still time to plant some crops, only March now.
And perhaps one should check one's stock of trousers, as these too come from China, and the Chinese may well be telling us soon: no money, no trousers.
That would be a national disaster! Quelle honte!
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
I watch Alexanders posts and at times I think i'v left the earth
am i alone in thinking this?
ALL POSTS ARE MY OWN PERSONAL VIEWS
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
earth to kieth,earth to kieth.you can come back now its safe.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Dig for victory, Keith. After the revolution there will be no money, only apples and spuds so you'd better be prepared.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,895
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Cyprus has 'no intention of leaving the euro'
Cypriot president Nicos Anastasiades has assured civil servants that "in no way
will we experiment with the future of our country" by exiting the euro.
Cyprus' President Nicos Anastasiades assured citizens the situation was "contained"
in the wake of a tough bailout deal with the European Union.
He said that while the current situation on the country is "tragic", that the bail-out
"averted the risk" of bankruptcy.
Mr Anastasiades - known for his fiery temper - was reported to have threatened
a euro exit during the fraught all-night negotiations on Sunday which resulted in
a deal forcing heavy losses on uninsured depositors in the island's two largest banks.
But on Friday he declared that while the eurozone lenders made "unprecedented
demands that forced Cyprus to become an experiment", an exit from the currency
union is not on the table.
"We have no intention of leaving the euro," he said, addressing civil servants in Cypriot
capital Nicosia "In no way will we experiment with the future of our country.
The situation, despite the tragedy of it all, is contained."
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
some way to go on this one
ALL POSTS ARE MY OWN PERSONAL VIEWS
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
not to far kieth only round the next to the newsagent.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Keith, you ought to understand that any kind of investment, be it from a bank, a group, an individual or a pension fund, or any fund, has to be an investment in assets.
An asset can be anything from a vegetable garden to a gas field to a heap of toxic papers.
Cypriot banks chose toxic assets, which is why they went the way of numerous other banks before them.
You shouldn't ridicule sane thinking, Keith.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
I think the tablets must be wearing off, wheres that box?
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Keith, do you have any constructive points of discussion to make on the topic of investing in assets?
Just for your information, Keith, even pharmacies, such as boxes of tablets, which you mention, have been drastically affected in Greece owing to the financial crisis there stemming from the State bankruptcy that was caused by the banks becoming insolvent due to bad investments in assets, generally paper assets.
Perhaps, Keith, you could do some research on the topic of bailouts, austerity, bankruptcies of banks and nations, rather than posting derisive comments on other people's views!
Guest 672- Registered: 3 Jun 2008
- Posts: 2,119
Am I in a dream or is this conversation happening.
get a life you lot.
grass grows by the inches but dies by the feet.
Guest 868- Registered: 25 Jan 2013
- Posts: 490
If only the energy put into moaning about something our of our control was spent on doing something good that will actually help Dover.... .
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
It's a straight forward case here:
The Greek bailout required strict austerity measures for that country's economy. The EU - and the IMF - required state spending cuts. So the Greek treasury could not fully pay chemists for the prescriptions they presented, as the money was running out.
Therefore, people entitled to free or discounted medicines often found the chemists unable to supply them with their medicines, as the chemists were not refunded by the state.
This is still ongoing there, and similarly, hospitals have also been known to run short on supplies.
Whether the EU authorities in Brussels were/are actually aware of this, or whether it was meant as part of their austerity measures, is unclear.
I'm not sure if Keith is aware of it, though.
And what happens if someone whose savings have been partially confiscated needed a medical operation that an austerity-stricken state cannot pay for, and would have to be carried out at private expense?
If the savings have been partially confiscated, even this could prove impossible.
And finally, many Greeks who became unemployed returned from the towns and cities to their villages of origin to help work their parents' land, as it has become an obvious way to at least have some food.
And this is not a dream world, but sheer reality, and it may come to us too.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Paul, the thread is about austerity in other countries, mainly Cyprus.
The Cyprus case was partially caused by the Greek bankruptcy.
So I'm not off topic.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
This Cyprus thing amounts to looting, pure and simple. There are People who have saved for years in order to build a nest egg and help fund their retirement. There are many People who have sold their house and waited for the payment to be credited into their account and now they have nothing - no home and no savings. Hundreds of business owners who are unable to trade and are letting staff go and many of them will go to the wall.
The mainstream media talk about rich Russians who have cleverly used the tax status of Cyprus to launder money but this is just a smokescreen. I'd like to see the faces of those who write this rubbish fall open mouthed if the same thing happened to their life savings.
Read this fellas woes and tell Me He deserves all He gets:
http://www.zerohedge.com/news/2013-03-29/i-went-sleep-friday-rich-man-i-woke-poorGuest 696- Registered: 31 Mar 2010
- Posts: 8,115
"There would be medical bills; he has a heart condition."
Well there you go, from Philip's link. This is what the EU has led to: people's savings are confiscated, they may not even afford their medical expenses.
And those who receive free medical care may find the chemists without medicines, if the state does not refund them for the presented prescriptions.
This is EU Austerity, folks!
