Cyprus is saved… Is it?

Hi folks,

Politicians in Europe are quite proud at the moment that they saved Cyprus… have they? Imagine… You have a bank account, savings account – whatever. It has about 2,000 EUR on it. On first sight, be happy, you are quite far below the 30%-extra-tax-value of 100,000 EUR. But then you begin to think ‘This was only the first round’ and remind yourself that it took several steps to save Greece (if it has already been saved!). That’s why you start to think about the next steps, the European politicians could think, if the first step was not enough. And then you come to a conclusio: Get your money off the bank! The next step might be to do the extra-rate for every account amounting to more than 50,000 EUR – and then? Third step: Everybody has to pay this (it always comes down to the poorest in the end) – so it might be much more safe for the money to be under the cushion of your bed. You don’t get a too high interest rate anyway.

If it comes to Austrian bank managers like Andreas Treichl, you shouldn’t  be safe by only putting money on a savings account where you think there is no risk (there can’t be a risk can it? – see – page in German). So it might definitly be more safe for your money to keep it at home instead of putting it on a savings account and receiving 0.125 % or so interest rate (it does not weigh up the risk).

Well, so far for my black-painting for Cyprus, I still hope, when banks are opening there today, people don’t think like that and do not storm the bank and withdraw all their money (at least, that would be more safe for my money on a non-Cyprus bank account ;-)).

Author: markus

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