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So, What’s It Like To Have a Business in Cyprus Right Now?

Posted By admin On March 29, 2013 @ 5:29 am In Featured Stories,Money Watch,Tile | Comments Disabled

Lew Rockwell Blog [1]
March 29, 2013

Here’s an account (literally):

So, Whats It Like To Have a Business in Cyprus Right Now? wbpomEF

Writes [2] the owner:

The most of circulating assets on our business Current Account are blocked.

Over 700k of expropriated money will be used to repay country’s debt. Probably we will get back about 20% of this amount in 6-7 years.

I’m not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.

The business is definitely ruined, all Cypriot workers to be fired.

We are moving to small Caribbean country where authorities have more respect to people’s assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners.


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URL to article: http://www.prisonplanet.com/so-whats-it-like-to-have-a-business-in-cyprus-right-now.html

URLs in this post:

[1] Lew Rockwell Blog: http://www.lewrockwell.com/blog/lewrw/archives/134665.html

[2] Writes: https://bitcointalk.org/index.php?topic=160292.0;all

[3] New Cyprus Business Model: 20% Fee To Move Millions Offshore: http://www.prisonplanet.com/new-cyprus-business-model-20-fee-to-move-millions-offshore.html

[4] MOODY’S: Even With The New Deal, Cyprus Could Still Default And Leave The Euro: http://www.prisonplanet.com/moodys-even-with-the-new-deal-cyprus-could-still-default-and-leave-the-euro.html

[5] Will Russia Kill The Cyprus Bailout?: http://www.prisonplanet.com/will-russia-kill-the-cyprus-bailout.html

[6] Convoy Of Trucks Reportedly Hauling Tons Of Fresh Euros As Cyprus Banks Prepare To Reopen: http://www.prisonplanet.com/convoy-of-trucks-reportedly-hauling-tons-of-fresh-euros-as-cyprus-banks-prepare-to-reopen.html

[7] Cyprus may raise deposit levy to 12.5% for large accounts – report: http://www.prisonplanet.com/cyprus-may-raise-deposit-levy-to-12-5-for-large-accounts-%e2%80%93-report.html

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