Author Topic: Is Cyprus setting a very dangerous precedent for Democracy & Right of Property?  (Read 1507 times)

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Cyprus has recently decided they will solve their enormous public debt directly putting the hands of the Govt. in the Citiziens' bank accounts, without asking for permission:

Money will be cut from accounts by Tuesday morning [Today]

THE ONE-OFF levy on bank deposits agreed between Nicosia and international creditors will impact all Cypriot account holders.

In addition to Cypriot commercial and co-operative banks, Barclays, Russian Commercial Bank and Societe Generale, among others, would be affected.

“As we understand it, anything with credit will be subject to the levy, be it a deposit or current account,” bank sources said.
Read and comment the whole related discussion here in the forum:,18041.0.html

" anything with credit will be subject to the levy, be it a deposit or current account ... "


At the same time other Europeans countries are pushing citiziens to have the main part of their money in Bank accounts to be "treaceable":

Italy wants to limit the cash payments under 300 euros!,17763.0.html


As we all know the EU countries, specifically those using the euro, don't have a Bank of State anymore but they all rely on the European Central Bank, wich cannot be a Bank of State because the EU is NOT a State but just an economical union... So ALL the banks our money are in are Private (with all the consequences - how reliable is a Private that makes its own interests?)

Added to this total lack of security about how our own money are dealth with by the private banks, and to the fact very often citiziens are forced to hold their money in controlled accounts, now Cyprus decides that, without any possibility of choice ALL the Cypriotes having an account (almost whoever ecept kids) MUST give a % of their property to the State, to solve the debt.

It means that Cypriotes have NO choice about how to use their own properties.
Cyprus didn't create a new tax to solve the debt, nor asked citiziens if they agreed giving a % of their accounts: Cyprus just decided to take that money as if it belonged to the Govt.
They did it as if whoever having an account was Directly responsible of the public debt to be solved.
They did this without any respect of the citiziens' will about their own properties.
They did it withut asking as if the private money were money of the State.


Now I am asking myself if this is a very dangerous precedent in violating Democracy and Right of Property.

If other nations decide to imitate Cyprus, considering the fact the 99% of the European population has their money in the banks, this would mean that we have lost all the control on our own honestly earned money.

Isn't it a dangerous precedent?