Quote from: RationalSpeculator on October 20, 2013, 06:50:15 PM

Quote from: zeroday on October 20, 2013, 06:00:37 PM

Quote from: RationalSpeculator on October 20, 2013, 05:37:01 PM

I have never heard that current accounts are the first to be payed back in bankruptcy.

Indeed stock holders lose first, then bond holders, both of which happened, and then saving account holders, all of them, except for the 'government guarantee' of 100.000 per client. It looks to me that the bankruptcy law was correctly applied. (though I'm not an expert in bankruptcy law)

I do find it odd that all money was lost above 100.000 per client. That means the bank lost likely 50-80% of their investments which seems very high. Normally after liquidating all assets, the shortage should be around 25% or something, like it was in the collapsed DSB bank in the Netherlands. So you might be right that the government just stole assets from the bank and thus you.

Do you have any proof or articles that show that capital was robbed from the bank by the government?

You got the point. It's not normal when 100% of deposited money were lost (exempt "insured" 100k).
That happened because the bank was restructured in perverted way, as insisted by European Comission.
They (EU) decided to pillage so called "Russian oligarchs' stash" and use it to pay country's debt. Laiki Bank capitals seizure was one of the main points int the ultimatum from EU to Cyprus.

For more details read this and this

Quote

21/03/2013
The European Central Bank warned Cyprus Thursday that it has four days to raise 5.6 billion to avoid bankruptcy - or risk losing bailout funds. The government ruled out the unpopular levy on bank funds during Thursday's Plan B talks.

Quote

21/03/2013 7:44PM GMT
Laiki restructuring 'trims 2.3bn' off cost of Plan B
The deputy leader of the ruling Democratic Rally, or DISY, party has told reporters that the decision to 'restructure' Laiki will cut 2.3bn from Cyprus's contribution to its own bailout.

You are right, this is robbery.

I'm really sorry.

The question I do still have is who stole it, your government or the european commission?

From what I see it's your own government that confiscated the bank's assets.

And it also went into reducing your governments debt.

So why blame the european central bank or european commission?

They're all to blame ... (in varying degrees)