Deposit Holders fleeced in latest Eurozone bailout

25 03 2013

Written by admin on March 17, 2013 – 8:42 am

Cyprus is the latest country joining the list with Greece, Ireland, Portugal and Spain to receive a bailout. While Cyprus only makes up 0.2 per cent of the Eurozone economy and the bailout is worth 10 billion euros, it is making news headline around the world for its unprecedented ‘levy’ on deposit holders.

Deposit holders with less than 100,000 euros will be hit with a once off tax at 6.75 per cent, while those with over 100,000 will contribute a higher 9.9 per cent.

The announcement has sparked outrage with everyday citizens, queuing to withdraw their life savings. However, it is believed the government has frozen electronic transfers until Tuesday so the levy can be processed on the Monday public holiday.

The ounce of logic for this unprecedented decision comes about as almost half of the depositors are foreign, many wealthy Russians. In addition to the Eurozone bailout, Russia is planning to extend a loan of 2.5 billion euro by five years.

But this is no consolation for Cyprus citizens who will wake up Tuesday morning poorer, some losing as much as 10 per cent of their life savings. In a world economy where we should be encouraging prudence, this decision will undermine any belief in saving, and could have wide spread implications.

» Why today’s Cyprus bailout could be the start of the next financial crisis – The Washington Post, 16th March 2013.
» Cyprus’ savers bear brunt of eurozone bailout – The ABC, 17th March 2013.
» Cyprus shellshocked over eurozone bailout – The Sydney Morning Herald, 17th March 2013.
» Cyprus set for emergency parliamentary session over bailout – The Australian, 17th March 2013.
» Cyprus bailout comes at a cost to bank depositors – MarketWatch, 16th March 2013.
» Cyprus bailout: Man threatens bank with bulldozer – The BBC, 16th March 2013.

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John Key Massive Corruption Exposed, Alan Hubbard Conspiracy, Paul Carruthers

3 03 2013

Vinny’s NUTShell: Paul Carruthers
It’s been over a year since Alan Hubbard died under suspicious circumstances right before he was set to release evidence in court that implicated John Key and others in a massive defamation campaign and cover up of the truth about Canterbury Finance.

The conspiracy runs much deeper than most people realise, involving Justice Minister Simon Power who later became head of WESTPAC bank that does all the governments banking which incidentally was one of the prime beneficiaries of the SOUTH CANTERBURY FINANCE liquidation!
The media have also been called out with massive suspicion and criticism leveled at Bernard Hickey and Martyn “Bomber” Bradbury for their underhanded cowardly reporting of this story.

Interesting to note is the circumstances of his death, on a 2km stretch of straight road, in his own lane, while stopped, his car was slammed into by another driver who didn’t break until 10 meters before impact! Even then he didn’t die and was reportedly laughing and joking with nurses at Oamaru hospital with easily survivable injuries before he was helicoptered to Dunedin hospital, a 20 minute trip that he did not survive, with an autopsy that was “inconclusive” the details of which will not be released to the public.

This interview should scare and shock every New Zealander to the depths in which this nation has fallen, where people are presumed guilty till proven innocent, if it can happen to Alan Hubbard it can happen to anyone.
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