European Removals Blog

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The Eurozone – Are your Savings Safe?

I usually reserve the space I have here by attempting to bring little snippets of interesting information that might help the transport industry or people that are moving in and around the UK and Europe. However, today I cannot stop myself!

If you never read the newspapers, surf the internet or watch the odd news program on T.V, you may well be unaware of what’s been happening in Cyprus. If you don’t know (and this is where I could get into trouble), the Government has attempted what can only be called legalised robbery!

First, they proposed that every single person with money in their bank account would lose 10% of it and why? So they could afford to pay their 10 BILLION Euro bailout! This (thankfully) was opposed. However, this hasn’t stopped bureaucrats from pursuing their endless need for that pot of gold.

It’s now been proposed that anyone who has savings of over 100,000 Euros (about £85,000) will be subject to losing up to 40% of it. Now, there are people out there with that sort of money, and not all of it has been amassed legally (a story for another day). It’s hard to feel sorry for someone who has so much in terms of cash wealth and has had to do little for it.

But, the point I intend to make is this. If this does happen, and I know a lot of people have thought this but not said it. It seems to me that the Cypriot Government will be used (by the Eurozone) in order to find out if it’s possible to take money that doesn’t belong to them without suffering a huge revolt.

This sadly, is where my blood starts to boil! How much can the average person take? Sure, at the moment this problem appears to be something that will only affect the elite rich (or those that are nearly there). But, think about it? How many times have we heard the words “Eurozone” and “bailout” in the last 12 months? Too many to remember and if this system of “taxation” goes ahead in Cyprus I’m sorry to say, but the average persons savings will no longer be safe!

Even if you have your hard earned money squirreled away in a bank account in the UK don’t think for one minute you might not lose some, if not, the majority of it!

I’m not an anarchist. I don’t believe in world disorder, but I DO believe in democracy, and in my humble opinion what the Cypriot Government (and the bureaucrats in the Eurozone) is up to right now is utterly contemptible!

Watch this space...and you’re savings!


Author: Julie Coburn