List of 132 Names Released of Cyprus Elites and Companies Who Emptied Bank Deposits Ahea

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Published : April 10th, 2013
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Category : Crisis Watch





From: SigmaLive / First Issue Date: April 01, 2013 10:30

Four pages with the names of some 132 companies and individuals who withdrew the bulk of their deposits in euros, dollars and rubles kept in local banks reveals a publication of the first issue.

Read also: Anastasiadis: "Never gave privileged information"
Money transfers made within 15 days, namely from 1 until March 15. On Friday, March 15, had met the Eurogroup, which officially decided to impose a tax on deposits by companies and individuals in all financial institutions in Cyprus.

These 132 companies and individuals have withdrawn all deposits in euros, dollars and rubles, which were transferred to other banks outside Cyprus.

The disclosure of the list, which shows that the outflow of deposits from local banks other financial institutions outside Cyprus became massively raises suspicion that some had inside information about the decisions taken by the other 16 eurozone countries in exchange for financing deficits of the economy.

In listings, and the company is Loutsios & Sons Ltd, which carried 21 million deposit in a UK bank, while the owner of the company is alleged to have family ties with the President of the Republic, Nikos Anastasiadis.

The first column are names of companies and individuals in the second record of the amounts withdrawn in the third column refers to the amount withdrawn in the same currency, the currency in the fourth and the fifth and last column refers to the date of transfer.







SigmaLive


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And the purpose of posting this list is what? To demonize those who acted in their own best interests?

Shame on them for taking their fiduciary responsibility to their shareholders serious.

Where is their communitarian spirit of "We are all in this together, so let us foot the bills for you."

No! Shame on you for posting this. And my firm congratulations to those who were wise enough to withdraw their monies.

Wisdom is knowing when to get off the dead horse even if it is in mid-stream.

Only thieves would demand the socialization of their losses "for your own good."
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So, you like the idea that a select few at the top got advance warning of the "haircut", while the other 99% got none? Would you suppose the 99% would have left their money in the banks if they had known?

Demonize the elite on the list? Nahhh.... I'd put them in jail!

You are definitely "over the edge" on this comment in my book, but to each his own perception of what is moral and fair I suppose....

BTW, I had no dog in this fight; being a non-participant, I neither gained nor lost from this event -- but I do appreciate being clearly shown how the 1% will treat me in my own country when it comes time to count the chips in a similar situation....

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"... a select few at the top got advance warning of the "haircut", ..."
You presumed that there was secret official advance notice. It could have as easily been just another rumor and some of the depositors acted on it.

"... I do appreciate being clearly shown how the 1% will treat me ..."
You presume I am among the top 1%. Much closer to the bottom 1%. A savings deposit is a loan to the bank. FDIC is deposit insurance in the USA and is grossly under-funded. It is no different in other countries. What do you fail to understand about investment risk analysis? A savings deposit is an investment. How does an insurance company make money? By investing the premium aka accepting risk. Do you trust deposit insurance to be fully funded? Ever hear of "Trust, but verify"?

You presume that investors never buy or sell on rumors. Bubbles exist because people believe rumors. Your argument effective requires that the investor MUST remain a believer in spite of evidence and rumors to the contrary.

Word has it that the Cypriot haircut has risen to $23 billion.
Do you honestly presume that the nation's depositors had no advance warning? Failure to make a decision IS a decision.
Belief systems ARE the reason so much conflict exists. They believed the bank would either weather the storm or it wouldn't and acted accordingly. You argue that those who didn't believe MUST be jailed.

"You gotta know when to hold them,
know when to fold them,
know when to walk away,
know when to run."

Thank you, Kenny Rogers "The Gambler"

"You are definitely "over the edge" on this comment in my book, but to each his own perception of what is moral and fair I suppose...."
Do you presume that I care what you or anyone else thinks about me or my opinions? You want moral and fair, go to church. Business is business. Ethics tend to be fluid with only the most egregious codified in law.

I suppose I failed to make myself perfectly clear. My opinions work for me. I offer them for free. Consider them as additional fodder to consider as part of your own due diligence on whatever subject. Save your accolades or chastisements for someone who cares. But I'm a sucker for new data to consider. Typically, those with the most complete information win provided they act on it. Unlike the smaller depositors in Cyprus who decided to wait and see.
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There's no obvious return from speaking unwelcome opinions -- but, I sometimes do it anyway.... Those who think they know everything are particularly aggravating to those who do. But then I'm just an ignorant nutjob in the woods, which fact provides me a great deal of solace when I encounter people like you who think they have the only correct solution to every issue that arises.

I'm pleased your opinions work for you.... Mine work equally well for me....

Since you offer your opinions for free, I leave you with the following thought: Advice and opinions from the multitude cost nothing, and are usually worth exactly what you paid for them!
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There's no obvious return from speaking unwelcome opinions -- but, I sometimes do it anyway.... Those who think they know everything are particularly aggravating to those who do. But then I'm just an ignorant nutjob in the woods, which fact provides me  Read more
H. - 4/12/2013 at 2:02 AM GMT
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