Cyprus agrees 20% tax on bank deposits - Sunday, March 24, 2013

There's a Laiki bank in Sydney's eastern suburb. Not sure if it's the same Laiki bank.. If they are, i wonder what's going to happen to them?

Btw i saw your hilux at Epping rd this evening Mr. Big.

 

They were bought out a few years ago and are run by Delphi Bank, formerly independant catering to Greek people itself now a subsidiary company of the Bendigo Bank family of small banks.

 

So Laiki bank & Bank of Cyprus are the same institution?

 

Just re-read my own post and sorry, I was wrong, Delphi bought Bank of Cyprus. No, not the same bank as Laiki.

To confirm I went here:

http://en.wikipedia.org/wiki/List_of_banks_in_Australia

and saw this listed under Australian owned banks:

 

A day after former Cypriot President Vassilou was found to be among many elite Cypriot (politicians and businessmen) who had loans written-off by the major (now insolvent) banks; it appears the rot is far fouler than expected. In a somewhat stunning (or purely coincidental) revelation, ENETEnglish reports that Cypriot newspaper Haravgi claims that current President Nicos Anastasiades' family businesses transferred 'dozens of millions' from their Laiki Bank accounts to London just a week before the devastating depositor haircuts were unleashed upon his people.

http://www.zerohedge.com/news/2013-...illions-london-days-deposit-haircuts#comments

If this story doesn't create civil unrest in Cyprus, I don't know what will....

 

If I was a Cypriot Army General I would be planning my coup d'etat right at this very moment, it would have popular backing from the people and the first thing I would do would arrest all the politicians for treason and have their offshore bank accounts frozen.

 

because words fail.