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Banco Santander, S.A. Message Board

  • isaac_dj isaac_dj Mar 18, 2013 11:33 PM Flag

    EU Politicians are NOW BACKTRACKING on CYPRUS !!!

    EU politicians have already begun to backtrack as a result of the worldwide backlash that followed the announcement that Cyprus may impose a 6.75% one-time levy on savings accounts. French and German EU representatives were quick to state that they had nothing to do with the ridiculous Cyprus measure, which is likely to cause foreign and domestic depositors to pull their money out of Cyprus's banks and consequently irreparably damage the banking sector and the entire economy of Cyprus.

    A more conventional approach would have used an increase in sales (value-added) tax, which is more sustainable but more gradual approach to solve the debtt problems.of the island.

    Anyway, the chances that such a savings-levy measure will be used in Spain is slim to none. .

    Sentiment: Strong Buy