Cyprus Levy on Bank Accounts
 

While the banks are shut until Wednesday the Cyprus Government appears to be trying to claw back some of the massive debt they have incurred with their EU bail-out. Accounts holding more than €100,000 will suffer a deduction of 9.5% and accounts under this amount will have a deduction of 6.75%. Additionally there will be a withholding tax imposed at source on interest earned. Source for this is a Times report by Philippe Naughton timed midday March 16th.

Does anyone know if this will affect HM Forces?

https://twitter.com/RAF_IFA_Echelon/...00680929517569

If anyone is out there and can retweet and/or ask the question, I'd be grateful.

Military Aviation.

"Military Aviation"
 

That's a bit harsh Courters - I think there a link is there - however tenuous - Flight Safety perhaps? CB

Come come Canadian,

We wouldn't want such a triviality which potentially seriously effects those currently serving to get in the way of all the WIWO_____ and Suez stories would we. :ugh:

.. I have just been told that it does (affect the troops). If that is the case, it looks like The Treasury will be indirectly bailing out Cyprus a little more because surely, it'll have to repay the losses?

triv
 

Steady on CC old chap - I represent that WIWO comment! However, I remember when I was in Cyprus 92-94 you couldn't walk down St Andrews Street on a Saturday without bumping into at least 3 or 4 Air Ranks who had retired to that Sceptered Isle. :ok:CB

Hmmm. WIWI Cyprus, it was Aphrodite's Isle of Love and Beauty. When did it get all Shakespearean then?

AL R WIWI
 

When was that Old Chap?

.. 84-88 and then on and off through the 90s.

Al R,

Reference post 9 - Othello?

al r
 

OK chap - here goes with a tenuous link for Shakespeare and Cyprus. Richard the Lionhear married Queen Berengaria - allegedly in Limassol. Richard the Lionheart and Richard the Third shared the same christian name and Shakespeare wrote a play called Richard III. Any good? A damn sight less tenuous linkl than some of those on here re Military Aviation (I think?). :ok:CB

C B

Re military aviation.....

How about the fact that the UK has a long standing RAF base on Cyprus, which has personnel "permanently" based there (i.e. a normal full UK military tour as opposed to just a deployment) who presumably may well have opened Cypriot bank accounts to make life easier out there - and who therefore may just have had some of their money taken away.

I believe the AAC may have a permanent set up in Cyprus as well.

Tenuous enough for you?

Any more tenuous than discussing military pensions, PAYD, SFA conditions, annual pay rises, X factor, allowances, annual fitness tests, CCS, etc..... :ugh:

That will teach them to be so clever and join the euro, anyway, the Bundestag could not be seen to vote for a cash injection into Cypriot banks that were holding vast amounts of laundered Russian money. We all know where sympathy is in the dictionary, between S**t and syphallis and not far from squadron leader!

DC will deem any losses of personal funds in Cyprus to be a "consequence of personal choice", me thinks?

OAP

Biggus, I had to google it.. but you win! :D

CB, I once asked a girl to get married, in Limassol. She agreed. :{

A little rich Courtney, given your earlier strident defence of CoffmanStarter's right to create at least 3 topics a day on pretty much any subject under the sun.

Given that this subject might actually affect those actually serving I think this is a perfectly reasonable thread subject :hmm:

I guess this has just heralded a potential run on the banks for whatever EU country needs the next bailout. Even the money-launderers will be looking for better investment opportunities.

Feel sorry for any HM Forces that are impacted by this.

Tenuous
 

Biggus - do I detect a trace of malice in your post? My original post was trying, in a roundabout way, to point of the iniquities of the chaps and chapesses in Cyprus being pinged for their 6.5% contribution to the fund! Subsequent posts were just banter with AL R - all in the best possible taste. I am well aware of who is in Cyprus thankyou! If I have grasped the nitrogenous end of the stick with reference to your comment then I apologise unreservedly!CB

PS I did a full tour there - not just "in and out" dets.