16 Mar '13, 12pm

Cyprus bailout deal includes taking 5,8 billion from the bank deposits of regular people. #Bitcoin user not affected.

Cyprus bailout deal includes taking 5,8 billion from the bank deposits of regular people. #Bitcoin user not affected.

BRUSSELS — Cyprus reached a long-awaited bailout agreement early Saturday that puts some of the burden for shoring up the island’s beleaguered economy on its bank depositors. The most contentious issue in months of negotiations was whether to force Cypriot depositors to take losses in order to make the country’s debt more manageable. The Cypriot authorities had sought to head off any such initiatives on the grounds that they would do lasting damage to their financial services sector. In the early hours of Saturday morning, after 10 hours of talks, finance ministers from euro area countries, the International Monetary Fund and the European Central Bank agreed on terms that include a one-time tax of 9.9 percent on Cypriot bank deposits of more than 100,000 euros, and a tax of 6.75 percent on smaller deposits, European Union officials said.. “It’s not a pleasant outcome espec...

Full article: http://www.nytimes.com/2013/03/16/business/global/showdow...

Tweets

"Banks can't just decide to take your money, th...

reddit.com 16 Mar '13, 3pm

I love how the reporters call it "taking a haircut" when the government simply decides one day to take people's money. I'd...

Cyprus parliament meets on painful EU bailout deal

Cyprus parliament meets on painful EU bailout deal

channelnewsasia.com 17 Mar '13, 3am

NICOSIA: The Cyprus parliament is to hold an extraordinary session on Sunday as the debt-laden government seeks to push th...

Cyprus : Most excellent for Bitcoin #bitcoin

bitcointalk.org 16 Mar '13, 1pm

This news could start a chain reaction with several dominoes falling. Imgagine how much a single Bitcoin would be worth an...

Cyprus to impose one-time levy of 9.9% on all d...

forums.condosingapore.com 17 Mar '13, 10am

Cyprus Postpones Debate On Bailout Terms, Official Says by THE ASSOCIATED PRESS March 17, 2013 5:17 AM Petros Karadjias/AP...

BitCoin is looking like a better deposit option...

nytimes.com 16 Mar '13, 9pm

The move — a first in the three-year-old European financial crisis — raised questions about whether bank runs could be set...

When Governments Take Your Money, Bitcoin Looks Really Good | Motherboard via @motherboard

When Governments Take Your Money, Bitcoin Looks...

motherboard.vice.com 19 Mar '13, 5pm

The tiny island of Cyprus became the center of the financial universe over the weekend, after its leaders, facing financia...

Bitcoin

bgr.com 18 Mar '13, 12pm

Business March 18, 2013 at 8:40 AM by Tero Kuittinen 8:40 AM Interestingly enough, several Bitcoin-related apps started sp...

#bitcoin

bloomberg.com 20 Mar '13, 6pm

Worried your government is going to take your savings? There's an app for that. Actually, there's an entire currency: Bitc...

Cyprus savers told to expect 40% loss

forums.condosingapore.com 26 Mar '13, 1pm

Cyprus banks used to have good ratings in 2010. That shows that savings in the bank is also proned to risks. Their bank de...

Bitcoin interest spikes in Spain as Cyprus financial crisis grows

Bitcoin interest spikes in Spain as Cyprus fina...

wired.co.uk 20 Mar '13, 12pm

If you think your savings are under threat -- from a banking collapse, government seizure or anything else -- the traditio...

Would Cyprus be better off calling the European Central Bank's bluff instead of taxing its own savers?

Would Cyprus be better off calling the European...

neweconomics.org 19 Mar '13, 3pm

Cyprus is unusual: a tiny economy – less than 0.2% of the eurozone’s total output - run as a tax haven with gloriously lax...

Bank robbery: banks are robbing the people: It'...

yu-kym.blogspot.com 18 Mar '13, 3pm

It's daylight robbery! People with money deposited in Cyprus bank will find themselves 6.75% or 9.9% poorer. And now the b...

As Cyprus Implodes, Bitcoin Interest Explodes |...

foxbusiness.com 22 Mar '13, 9pm

As policymakers in Europe threaten the sanctity of bank deposits in crumbling Cyprus, the faceless operators of decentrali...

Bitcoin-funded debit card holders get 10% of ba...

bitcointalk.org 18 Mar '13, 9pm

As you have probably already learned from the news, the Cypriot government is planning to introduce a one-time tax on all ...

Is Bitcoin the New Safe-Haven Currency? Bitcoin...

intellihub.com 20 Mar '13, 5am

Is Bitcoin the New Safe-Haven Currency? Bitcoins Surge After Cyprus Bank Raid March 20, 2013 | Filed under: Economics ,Eur...