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Shock in Cyprus as savers face bailout levy

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sptrawler said:
Well I've only worked for large companies, but there was never an option to take your pay as cash.

I assumed it was legislated that wages had to be deposited into a bank, it would make sense for the tax department. I will stand corrected, as I said it was an assumption.
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Those were the good old days. When I started working everyone got their wages in cash. The cashier would come around with your pay envelope and inside would be your money (notes and coins) and a pay slip. Then it was down to the pub!
 
tinhat said:
Those were the good old days. When I started working everyone got their wages in cash. The cashier would come around with your pay envelope and inside would be your money (notes and coins) and a pay slip. Then it was down to the pub!
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Oh, to be able to go back to that, no plastic just folding stuff in your back pocket.:xyxthumbs
 
McLovin said:
I don't know of any legislation, my understanding is that for large companies it's far easier to do bulk EFT than cut people cheques or head down to the local branch and get cash out.

I ran a business a couple of years ago and paid some of the staff cash (with tax deducted of course) because that's what they preferred.
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My mistake, when or if I ever go back to work I'll ask for cash.:xyxthumbs Also hopefully I could opt for money rather than super.:xyxthumbs
Ah, the perfect world.

Gosh isn't life so much easier when Labor are in office looking after the worker.
You don't have a worry in the world, you know you are in safe hands, thanks Wayne.:eek:
 
Cyprus ain't over.

After a chaotic month in which Cyprus was pushed to the brink of default and a possible exit from the eurozone, Cypriots knew things would get bad. But not this bad.

A bleak assessment released on Thursday by its European partners, says the Cypriot economy will spiral downwards for at least the next two years, contracting by up to 12.5 per cent as the country cuts a banking sector that had ballooned to more than five times its gross domestic product.

And because the economy will do worse than expected, Cyprus must soon raise €13 billion - nearly twice the amount the government thought it would have to come up with just a month ago - in order to keep its debt and deficit from spinning out of control and to maintain a €10 billion ($12.4 billion) international bailout secured last month by the newly elected president, Nicos Anastasiades.
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More at http://www.smh.com.au/business/cyprus-slips-a-little-closer-to-oblivion-20130412-2hqnl.html
 
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