Quote:
Originally Posted by willx
Are you kidding me? Are you serious? For example, was depositing money in banks in Cyprus safe? Are you just allowed to rely on people to tell you what is safe or not? Yeah, S&P screwed up ( http://business.financialpost.com/20...investigation/) but you can't push all the blame on someone else. Every single investment requires personal and professional guidance and evaluation of risk.
There is no such thing as a non-risky investment. Some are risker than others, but even investing in U.S. government bonds have "a risk" |
I think they just saw the interest rate and go "buy that bond!".
Either that or they are simply moving their money to somewhere to avoid taxes.
The problem seems that Cyprus doesn't have a deposit insurance scheme that protects the monies of the savers. Either that or they don't have a proper required reserve ratio to maintain equity.