# Cyprus could trigger bank runs



## Ash Jez (Feb 17, 2013)

*Euro and shares slide over fears that Cyprus could trigger bank runs in other eurozone countries.*

We all know what is happening in Cyprus and with other countries having major financial problems also, and in particular Greece, Spain, Italy and Portugal, do you now feel less secure and are you considering, restricting what you have banked in what is supposed to be a safe place?

Is such a course of action as in Cyprus their only option or has their arm been twisted to the point of breaking. At the end of the day, many, many countries have absolutely massive debt and now, it would seem entirely possible that such measures could be adopted elsewhere. 

How do you you feel about this and could it be the last straw that breaks the the donkey's back?


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## travelling-man (Jun 17, 2011)

It's certainly convinced me not to keep any more in my PT bank account than I absolutely have to but the good news for me is this will probably mean the Euro will weaken against the UKP so my pounds will be worth more........


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## oronero (Aug 24, 2012)

Hey *travelling-man*, stop upsetting the lot in the Cyprus forum, I think they have their minds occupied at the moment! 

In all seriousness, I don't believe that the UK banks are any safer than those in other nations. The UK is in a bad way, though we are not quite at the point of asking for a 'bail-out' but when that happens, not 'if', the precedent has know been set and it could easily happen here. 

I expect that the Government are watching this closely and if there is not too much 'fallout' from this action, expect to see it happen down your local UK 'High Street' !


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## jojo (Sep 20, 2007)

oronero said:


> Hey *travelling-man*, stop upsetting the lot in the Cyprus forum, I think they have their minds occupied at the moment!



He's alright, opinions and heated discussions can get a bit........ well heated lol!!! 

Jo xxx


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## Ash Jez (Feb 17, 2013)

I'm in the UK and I must say that I'm a bit worried about this too. The big question now, is where next as I'm sure this will not be a one off.


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## Ash Jez (Feb 17, 2013)

oronero said:


> Hey *travelling-man*, stop upsetting the lot in the Cyprus forum, I think they have their minds occupied at the moment!


 Seems we are all popping over to that section then.


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## oronero (Aug 24, 2012)

Some food for thought....

Activist Post: The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank Accounts


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## coati (Sep 12, 2012)

Troubled times indeed.
Best advice is probably to draw all your money out and bury it in the garden lol.

make sure its in a tin though cos the foxes might eat it.

Seriously be careful out there; these incompetent bankers and politicians are after it


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## robc (Jul 17, 2008)

Some valid points raised below..............opinion is just that....opinion so I have added my opinion for what it is worth. In red type !!!!




Ash Jez said:


> *Euro and shares slide over fears that Cyprus could trigger bank runs in other eurozone countries.*
> 
> We all know what is happening in Cyprus and with other countries having major financial problems also, and in particular Greece, Spain, Italy and Portugal, do you now feel less secure and are you considering, restricting what you have banked in what is supposed to be a safe place?I did not feel particularily secure before, this has made it worse, I have always restricted what I had in one institution both here in Portugal and abroad, what has changed is the sum of money I was and will hold in an Individual institution.
> I used to work on €100,000 in Portugal and Europe and £50,000 in the UK. Now, post Cyprus I have re-arranged that to be no more than €25,000 or £25,000 as when the first "theft" was announced it was going to start at €20,000, a figure in my opinion not chosen by the Cypriots but by the Germans.
> ...


Rob


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## Micksantacruz (Dec 1, 2012)

What annoys me is the bankers and staff get these massive bonus's far more than they need because they are on very good saleries already and everyone has to accept thats ok. Then things go wrong and its joe public who has to always sort things out. Who can you trust these days ?Answer No-one !


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## robc (Jul 17, 2008)

Micksantacruz said:


> What annoys me is the bankers and staff get these massive bonus's far more than they need because they are on very good saleries already and everyone has to accept thats ok. Then things go wrong and its joe public who has to always sort things out. Who can you trust these days ?Answer No-one !


I do not disagree with the size of remuneration packages given to Bankers, but the massive sums are only the headline grabbers. Not all Bank staff earn these colossal sums. 

As to the legitimacy of such sums that is, and always will be determined by market forces. The same forces that apply to all walks of life, say for example, buying a football player. A club has to pay the market rate to acquire what they perceive as the best player, so it is with Banks.

In my opinion the Banks are worth it, Footballers are not. That is just my opinion. 

If you really want to get to the core of the problem look no further than Politicians.
They are the real fraudsters in this mess.

Rob


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## Ash Jez (Feb 17, 2013)

robc said:


> In my opinion the Banks are worth it, Footballers are not. That is just my opinion.
> 
> If you really want to get to the core of the problem look no further than Politicians.
> They are the real fraudsters in this mess.
> ...


 How can anyone say the banks are worth it when it was the banks that started all these problems through pure greed. When business was good for me pre 2008 the bank managers were constantly on my back wanting to lend me more money. I was told frequently that another £100 - 200,000 was available. If I had taken up their offer, I'd be in a right royal mess now. Pure and simple, it's nothing but greed.


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## robc (Jul 17, 2008)

Ash Jez said:


> How can anyone say the banks are worth it when it was the banks that started all these problems through pure greed. When business was good for me pre 2008 the bank managers were constantly on my back wanting to lend me more money. I was told frequently that another £100 - 200,000 was available. If I had taken up their offer, I'd be in a right royal mess now. Pure and simple, it's nothing but greed.


The banks started the problems........interesting standpoint, since it was the artificial manipulation of interest rates and exchange rates that caused the credit bubbles both in the UK and overseas as many Governments wanted a feel good factor to aid their re-election prospects, and many still do.

As far as Banks wanting to lend money, hardly a surprise as that is what they do, just as there are regulations for such things as hazardous chemicals and fireworks, so there should be for lending and borrowing money. The fact that Govt. dispensed with all controls for fiscal probity can hardly be blamed on the Banks.

Even now, with many countries in dire straits their Governments are extolling the need for consumers to spend and borrow, and consume some more............do they never learn.

It would be inappropriate and downright rude to pass comment on other posters circumstances but I would suggest that you re-read your post and ponder how many differing conclusions a reader may draw given your choice of words and language.

Rob


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