REGULAR readers will know I have family in Cyprus. And today I am cross and upset for them as news of the financial turmoil in that country makes headline news.
For those of you who haven't heard, anyone with money in the bank in Cyprus heard on Saturday morning that they were to be hit with a sneaky, unexpected, unavoidable levy as part of a bailout deal which aims to strengthen the financial position of the struggling nation.
So depending how much money people have deposited in the banks on the island this could be 6.75% or even 10% of all their money, already frozen, ready to be taken away from them.
Already I know of people who have lost big chunks of their pension, savings, cash put aside to pay important bills. Millions of Euros in total. Understandably this has caused an outcry but from such a small population it's no more of a noise globally than the beat of a butterfly's wings against a rose petal.
And let's be honest aren't the rest of us just relieved it's not us? (yet)
On this day, a day of rest, a day in the blogosphere which is often used as a break from using words to be dubbed "Silent Sunday" I wanted to speak out and say out loud in the UK on behalf of my friends and family what I am sure they are all thinking.
"This is not fair!"
I don't know much about global finance, or banking. I understand that sometimes desperate measures need to be taken to solve desperate problems and I suppose it is better to lose a little money ( in the grand scheme of things) than everything if the country had gone bankrupt.
I just know how awful I would feel if it happened to me.
So spare a thought today for that little nation with so many connections to our own country. If you are the praying type, send one up for those struggling to put food on the table and pay the mortgage now because of this levy. And if you aren't, send one up anyway.
For those of you who haven't heard, anyone with money in the bank in Cyprus heard on Saturday morning that they were to be hit with a sneaky, unexpected, unavoidable levy as part of a bailout deal which aims to strengthen the financial position of the struggling nation.
So depending how much money people have deposited in the banks on the island this could be 6.75% or even 10% of all their money, already frozen, ready to be taken away from them.
Already I know of people who have lost big chunks of their pension, savings, cash put aside to pay important bills. Millions of Euros in total. Understandably this has caused an outcry but from such a small population it's no more of a noise globally than the beat of a butterfly's wings against a rose petal.
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| madmumof7 and mum in Cyprus in happier times. |
On this day, a day of rest, a day in the blogosphere which is often used as a break from using words to be dubbed "Silent Sunday" I wanted to speak out and say out loud in the UK on behalf of my friends and family what I am sure they are all thinking.
"This is not fair!"
I don't know much about global finance, or banking. I understand that sometimes desperate measures need to be taken to solve desperate problems and I suppose it is better to lose a little money ( in the grand scheme of things) than everything if the country had gone bankrupt.
I just know how awful I would feel if it happened to me.
So spare a thought today for that little nation with so many connections to our own country. If you are the praying type, send one up for those struggling to put food on the table and pay the mortgage now because of this levy. And if you aren't, send one up anyway.
