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(Financial Times) -- Wealthy depositors in the Bank of Cyprus could face losses of as much as 60 per cent -- far in excess of what had been expected -- as the country scrambles to save what is left of its stricken banking sector.
The most of circulating assets on our business Current Account are blocked.
Over 700k of expropriated money will be used to repay country's debt. Probably we will get back about 20% of this amount in 6-7 years.
I'm not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.
The business is definitely ruined, all Cypriot workers to be fired.
We are moving to small Caribbean country where authorities have more respect to people's assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners.
Originally posted by wemustbreakyou
What we all must remember when we see The IMF waging war on all of Europe is that the IMF = USA.
America are doing this to Cyprus.
America is the IMF.
.edit on 30-3-2013 by wemustbreakyou because: (no reason given)edit on 30-3-2013 by wemustbreakyou because: (no reason given)
Originally posted by AQ6666
1 or 2 % cut on savings is already a robbery, but 60% is INSANE