Will Spain follow on with a tax on bank accounts after they have all the information about resident's financial details. Will Cyprus pass legislation to allow them to tax at 6.75% of all accounts under 100.000 euros?
I doubt it think of the wide spread ramifications, it would cause a run on all the banks, civil unrest, money being withdrawn from Spain all this on top of an already fragile economy, also would/could they try and take the money from non residents accounts again I hope/doubt it, after all what good is a bail out if there is no money left in the banks and no investment money being left in the country
The inquisition is getting details of accounts and all assets but only from residents. Non residents are not affected so no money would be withdrawn from their accounts. This should only be for those with assets of more than 50,000 euros not pounds.
Even then how would they take the money from locked in accounts for whatever 1/2//3 years etc time they are locked in for with no withdrawal's, if this lasts for only a short 1 years time or would the account holder have a debt
They would levy a debt as per inheritance tax which must be paid before one acquires the asset/property.
I wouldn't advise anyone to keep any more money than they need to
in there Spanish bank account, but just to transfer what is needed.
Crazy all this just because you cannot devalue the currency and having
to borrow each time to get yourself out of trouble only thing is the world market
is stagnent hence how Cyprus is close to bankruptcy.
http://www.exchangerates.org.uk/news/6331/is-it-safe-to-hold-euros-pound-to-euro-exchnage-rate-rises-cyprus-bank-deposit-tax-announcement.html
Hitler Bails Out Cyprus
http://www.youtube.com/watch?v=K5R2JyU_MKg&feature=player_embedded#!
