Cyprus steals money from personal Bank Accounts, could it happen here?

I know you'll say the Politicians have been doing that to us for years, but what Cyprus has done is beyond belief. Everybody's bank account has been 'robbed' to help pay for the Country's debt, ordered by Eurozone officials (who do they think they are, about time they robbed their own wage packets). A one off levy on savings as part of a 10 Billion Euro bailout was agreed in Brussels.

So if you have less than 100,000 Euros in your account then you will have lost 6.75% as a Eurozone 'one-off' tax! Anybody with a greater sum of money in their account will pay 9.9%

Apparently depositors could access all of their money, except the amount set by the levy. My understanding is that they took it before they announced it, what a bunch of b......s eh? And more to the point could it happen here?

What should we do to protect our money because this really is tantamount to highway robbery!

Interesting, especially as I do a lot of internet shopping, so what are the suggestions, ??/

Banks in Cyprus lost money because they were heavily invested in Greek government bonds which then suffered two substantial haircuts.The Cyprus bank bailout could be a disastrous precedent.They're reneging on government deposit insurance.

There could be bank runs in Spain,Italy,Portugal,Ireland,Greece and France.Stock markets around the world will be affected.The dominoes are falling !

I wasn't aware we still had so many troops out there that is is going to affect.

http://www.bbc.co.uk/news/uk-21820237

The threat from the Cyprus Government is that they could be bankrupted if they don't get the money from the people, but would that be such a bad thing?

Remind me, which Country was bankrupted during the 1940's and where are they now?

At least bankruptcy puts everbody on a level playing field and during these difficult times there may be no other option.

As for being part of the Eurozone and their minimal influence, I wonder for how much longer and like us they need to get out!

B....y Europe!

I don't think it's just the Cyprus Government who steals your savings. Look at the situation in the UK with crippling taxation and interest rates less than inflation. Even on basic rate tax, people lose at least 40p in every pound because of the combination of income tax and VAT. And inflation makes your savings interest effectively a negative figure.

I would dearly love to buy a new camera or another lens, but this is out of the question with the crippling tax rates. Come on somebody  (Nigel Farage maybe)...Cut taxes and get the economy moving again !