tar
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Get your money out of Cyprus .
Get your money out of Cyprus .
We are, mainly, flat dwellers, Pat and I have not looked at prices for ages. I do know, from what is going on in Barcelona., that big, older, flats are being sub-divided into apartments of 30-40 sq,metres, generally known as broom cupboards. That's all young people can aspire to, these days. It's very sad.
With 5 million out of work, you can imagine.
This is the problem that Brit ex.pats face, if they are retired. They cannot sell up and go home, just like that. Even if they could, what would they go home to? I've heard about old people's death rates in UK hospitals. Old people being checked out at night so the bed is available the next day. Old people shivering because they can't afford the heating. Do you think that they are worried about those in Cyprus not getting their money out of the banks?
It's the same all over, mate. but with me, my wife and I have slept with our window open for years. If it is colder one night than another, we put an extra blanket on.
We, still, have daily rubbish collection, our medical prescriptions are free (we pay VAT), and a fare all over Barcelona, changing from metro to bus, if you wish, costs about a euro if you buy a card of 10 rides.
All sorts of advantages but the good weather is a free bargain thrown in.
All this may change, of course, but IMO, you'll have it worse before we do because you are more energy dependent than us. Without heating, you'll die. It's as simple as that. The world's resources are being used up. With all the dangers that involves, we'd better go nuclear, and fast.
counter_violent
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tar
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yes very good...I don't have any money in Cyprus.
So back to the point. What are the mechanisms available for people to take their money out of Cyprus?
The idea was : use a debit card/paypal to fund a brokerage account out of Cyprus , not sure if it will work though .
So back to the point. What are the mechanisms available for people to take their money out of Cyprus?
Stop worrying about them They aren't worried about you. They took their chances and they are in the hands of a foreign government.
The point is that their money is, now, out of their control.
Wait for Tuesday..
Atilla
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So back to the point. What are the mechanisms available for people to take their money out of Cyprus?
I beg to differ. People should not take their money out of Cyprus! Why?
Pay ones dues and carry on as before. No ones died have they.
I would also recommend full and strict capital controls until situation eases.
No countries bank would be able to withstand a bank run, including the German banks.
If smart money chose not to leave Cyprus in the last 2-3 years why leave now and precipitate the very fear one is trying to avoid?
What is wrong with people????
C
cablemonster
Yes I agree it is a sad situation however it is up to the young people to rise up to the politicians and reset the country. i.e. full default, new peseta currency, rebalance the economy, exports extremely competitive again. Collectively people have to understand that it is up to them to stand up to the politicians. Most people are driven by fear and hence the status quo continues. I do feel once one country leaves the Euro we will have a 'euro spring' type situation. A lot of what is going to happen is dictated by Germany, if the German people vote no in the autumn to Merkel handing out more money then it is game over for the euro. It could go the other way with more political union but this will most probably store up a bigger problem for the future. my $0.02
JSMITH07611
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So back to the point. What are the mechanisms available for people to take their money out of Cyprus?
as i said in original post. take your debit card and spend all money in your account funding a brokerage forex gambling or plain paypal in other country.
cyprus restricted money movement and pulling money from wall but have not thought of debit card trasactions.
basically if it is too complicated for you don't do it (the other moderator seemed to understand it though) but for those who want to keep their money its a rather simple idea.
jungles
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because the banks are on a holiday and so are not electronically interfacing with the financial network;
try to make the transaction as you propose, and it will be rejected
try to make the transaction as you propose, and it will be rejected
Hoggums
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I beg to differ. People should not take their money out of Cyprus! Why?
Pay ones dues and carry on as before. No ones died have they.
I would also recommend full and strict capital controls until situation eases.
No countries bank would be able to withstand a bank run, including the German banks.
If smart money chose not to leave Cyprus in the last 2-3 years why leave now and precipitate the very fear one is trying to avoid?
What is wrong with people????
What is wrong is herd mentality. you are making the mistake thinking average Joe is intelligent and can think for themselves. If you saw queues of people at your local bank withdrawing money - wouldn't you think about doing it yourself? Whether right or wrong - it's better to be safe than sorry.
Whether you are right or wrong, or lucky. Because when you get to the queueing part, the shutters are likely to come down at any time before you get there.
When someone has spare cash, it is very difficult to know where to put it. You pay your money and take your choice.
What I find is that many, including Nigel Farage (an expert, no doubt) are telling British ex-pats to take their money out of Spain, without asking them what they are going to live on, from day to day, while in Spain. So these people sell up in countries where property, simply,has no market at all and go back to the UK, with all the expense that will be. Where are they going to live when they get back? Put up with a family member? Will there be room?
This is all very complex and impossible for bewildered pensioners to get their minds around. Everything was so rosy before they went out, wasn't it?
I remember reading about the queues outside Northern Rock branches when they went bust.
Afterwards, the Chancillor, Darling, I think, admitted that the British economy was within a hair of collapse.
These are terrible decisions to have to make and lots of, so.called, responsible Brits are smugly advising the unfortuantes to get their money out. They forget that their own currency is not in a fantastic situation and, but for the Grace of God, go us all.
counter_violent
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Well this goes to the crux of the problem.
Nobody forced people to go live in the sunshine where just about everything can wait until tommorow.
I guess some people just know that if it all sounds too good to be true, then it probably is!
Anyway, on a brighter note, here's a poem by Spike Milligan to cheer you up
Have A Nice Day
'Help, help, ' said a man. 'I'm drowning.'
'Hang on, ' said a man from the shore.
'Help, help, ' said the man. 'I'm not clowning.'
'Yes, I know, I heard you before.
Be patient dear man who is drowning,
You, see I've got a disease.
I'm waiting for a Doctor J. Browning.
So do be patient please.'
'How long, ' said the man who was drowning. 'Will it take for the Doc to arrive? '
'Not very long, ' said the man with the disease. 'Till then try staying alive.'
'Very well, ' said the man who was drowning. 'I'll try and stay afloat.
By reciting the poems of Browning
And other things he wrote.'
'Help, help, ' said the man with the disease, 'I suddenly feel quite ill.'
'Keep calm.' said the man who was drowning, ' Breathe deeply and lie quite still.'
'Oh dear, ' said the man with the awful disease. 'I think I'm going to die.'
'Farewell, ' said the man who was drowning.
Said the man with the disease, 'goodbye.'
So the man who was drowning, drownded
And the man with the disease past away.
But apart from that,
And a fire in my flat,
It's been a very nice day.
Spike Milligan
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counter_violent
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Hindsight and foresight.
If foresight does not exist...then it should be removed from the dictionary.
Foresight - Definition and More from the Free Merriam-Webster Dictionary
Purple Brain
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It's only a haircut if the dodgy bank bonds offered in exchange for the cash taken don't meet the nominal value plus inflation indexation rate over the period for which the bonds are held, or pro rata if traded. And they can only be traded providing a market for them is made, which is unlikely. So yes, in other words, a haircut.
With around 45% of accounts impacted holding funds for Russian off-shoring interests from mafia related activities there is justification for a wry smile at one lot of ill gotten gains being equally ill gotten under the auspices of a prerequisite for a Troika bailout. No honour among thieves.
It has also effectively put the kibosh on EZ banking in general. Not only will non-EZ interests no longer wish to put their funds at potential risk, even EZ interests will be actively seeking non-EZ banking security. A windfall for Asian and possibly even US financial institutions.
With around 45% of accounts impacted holding funds for Russian off-shoring interests from mafia related activities there is justification for a wry smile at one lot of ill gotten gains being equally ill gotten under the auspices of a prerequisite for a Troika bailout. No honour among thieves.
It has also effectively put the kibosh on EZ banking in general. Not only will non-EZ interests no longer wish to put their funds at potential risk, even EZ interests will be actively seeking non-EZ banking security. A windfall for Asian and possibly even US financial institutions.
Guys I am from Cyprus. FYI Banks are re-opening tomorrow but they got limitations on withdrawing money and such please see below:
a) No cashing checks.
Provided that may deposit checks into account.
**
(B) Any non-cash payment or money transfer outside the Republic, except:
(J) payments for commercial transactions within the ordinary activities of the client by presenting documentary evidence. Not require the production of documents for amounts not exceeding € 500.
(Ii) payment of salaries of employees working outside the Republic
*
(Iii) subsistence expenses up to € 10.000 per quarter tuition and persons studying abroad and first-degree relatives of persons who have their habitual residence in the Republic, with the presentation of relevant evidence. Provided that all payments made to the beneficiary.
*
(Iv) Payments or transfers outside the Republic by debit or credit card or prepaid, to € 5.000 per month per person for each institution.
*
(V) Payments of claims by insurance companies
*
(VI) or other payments and money transfers is ensured provided that prior approval of the Commission
*
(C) Any termination filing deadline before the specified end date unless the product will be used to repay the loan within the same institution.
**
(D) The transport of euro banknotes or foreign currency in excess of the amount of € 3000 or the equivalent in foreign currency per person per trip abroad.
The Director of Customs shall implement this measure.
*
(E) Financial transaction, payment or transfer, which is not completed before the commencement of this Ordinance, subject to the provisions of this Order restrictive measures.
*
(F) prohibit a credit institution to perform cashless payments or money transfers that aim to circumvent the restrictive measures.
*
(G) The restrictive measures apply to all accounts, payments and transfers, regardless of the currency.
*
Excluding restrictive measures:
(A) All money transferred from abroad to the Republic.
(B) Diplomatic Missions
(C) financial transactions on their own behalf institution
(D) Payments authorized by the Commission ∙
(E) The Republic ∙
(G) The Central Bank.
a) No cashing checks.
Provided that may deposit checks into account.
**
(B) Any non-cash payment or money transfer outside the Republic, except:
(J) payments for commercial transactions within the ordinary activities of the client by presenting documentary evidence. Not require the production of documents for amounts not exceeding € 500.
(Ii) payment of salaries of employees working outside the Republic
*
(Iii) subsistence expenses up to € 10.000 per quarter tuition and persons studying abroad and first-degree relatives of persons who have their habitual residence in the Republic, with the presentation of relevant evidence. Provided that all payments made to the beneficiary.
*
(Iv) Payments or transfers outside the Republic by debit or credit card or prepaid, to € 5.000 per month per person for each institution.
*
(V) Payments of claims by insurance companies
*
(VI) or other payments and money transfers is ensured provided that prior approval of the Commission
*
(C) Any termination filing deadline before the specified end date unless the product will be used to repay the loan within the same institution.
**
(D) The transport of euro banknotes or foreign currency in excess of the amount of € 3000 or the equivalent in foreign currency per person per trip abroad.
The Director of Customs shall implement this measure.
*
(E) Financial transaction, payment or transfer, which is not completed before the commencement of this Ordinance, subject to the provisions of this Order restrictive measures.
*
(F) prohibit a credit institution to perform cashless payments or money transfers that aim to circumvent the restrictive measures.
*
(G) The restrictive measures apply to all accounts, payments and transfers, regardless of the currency.
*
Excluding restrictive measures:
(A) All money transferred from abroad to the Republic.
(B) Diplomatic Missions
(C) financial transactions on their own behalf institution
(D) Payments authorized by the Commission ∙
(E) The Republic ∙
(G) The Central Bank.
You can take that up with Collins but foresight, in my opinion, is expectancy. Anyone who has traded knows all about foresight, that's why we are all wealthy!
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