BRUSSELS FIRMLY SET TO STEAL FROM SAVINGS ACCOUNTS – The word is out; if you have a savings account anywhere in Europe now is the time to withdraw your money and move it outside the Eurozone.
In what appears to be an unbelievable move, which could quite easily throw the whole European economy into a complete meltdown, Eurozone finance ministers have warned that raiding savings accounts, which was supposed to have been shelved, could well be the only measure to bail out the Cypriot banks.
A clear and stark warning now exists to anyone living in the Eurozone – if they can steal from savers accounts in Cyprus, they can steal from savers accounts in any EU member state.
For any saver with more than £85,000 it is suggested that you could lose up to 40% of your money as the thieves plunder your accounts in a move to prop up their own mismanagement and incompetence.
Many senior officials are warning that such a move could be replicated across other EU countries if the need arose, leaving savers in doubt as to the safety of their money.
Banking shares across the Eurozone have witnessed a slump in share prices and many senior officials are suggesting the Cyprus would do better to pull out of the EU and strike a deal with the Russians rather than accepting a deal that could potentially wreck havoc on the entire Eurozone as savers, within the EU, start moving their cash to safer locations.
The EU is supposed to be a system of ‘democracy’ but this move by the EU Finance Ministers is a far cry from anything democratic, but rather a totalitarianism force of its will upon the people.
Cypriot businesses have also voiced their concerns saying that any such move to steal from savers would almost certainly bankrupt hundreds, if not thousands, of Cypriot businesses overnight.
As the hours tick by it is looking that the only course of action the Cypriot Government can do it so pull out of the EU and dump the Euro, but this will mean playing into the hands of the Russians; something that EU ministers are keen to avoid.
It looks increasingly unlike that the Cypriot Government is going to accept a bailout under the terms and condition laid out by the EU. This would set a precedence that any EU country falling foul to economic conditions could be forced to steal from savers accounts; an effect that would most likely see a mass exodus of savers moving their money out of the Eurozone.