Dana Summers by Dana Summers

Dana Summers

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  1. M Ster

    M Ster said, over 3 years ago

    The Cyprus issue is being blown way out of proportion. I read the following from a financial blogger earlier today:

    • Cyprus has a population of 1.1 million
    • There are 370,000 bank accounts
    • Of those, 360,000 have less 100,000 Euro, the limit on deposit insurance.
    • The 370,000 bank accounts have total deposits of 68 billion Euros.
    • The 10,000 with more than 100,000 Euros make up 55% of the deposits, or 38 of the 68 billion.
    • Many of those 10,000 accounts are held by Russians or other non-Cypriots that are seeking tax shelters.
      So maybe it’s not such a bad outcome for those 10,000 account holders to pay for the banks’ losses.

  2. M Ster

    M Ster said, over 3 years ago

    There’s a huge difference between being a socialist and being against money laundering and tax evasion.

    I think your comment says a lot about you.

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