Cypriot Tax on Savings... could it happen here?

Been watching with interest the events in Cyprus re their Bailout. The move to tax savings while seemingly drastic on the one hand is a great way for a Government to literally take money out of peoples pockets.
While we are seemingly moving in the right direction economy wise i was wondering if this is something our crowd could contemplate doing? Despite voting for them i no longer have any faith in them (speaking here as a 'middle class' semi stae employee with a public sector spouse and apparently considered 'wealthy'!). They have caught us every other way, here's a great one for them.
Or if a move like this was entertained would it cause a complete breakdown of the bank system with a run on deposits and such like.
While i may jest it certainly has got me thinking. I know we have the guarantee on deposits to 100k but i must not be the only one looking at this with more than just a passing interest...or am i?Even a small percentage tax on deposits would net the coffers a tidy sum.

apologies just noticed this topic discussed in other forum......not quite awake this morning!

I can't even allow myself think about this possibility, all I have to live on is my savings until pension (ha!) kicks in. Seems a very blunt instrument which takes no account of income earning potential of person whose savings they are taking, wait though is that the property tax I'm talking about!

Hi, If the Irish Banks need another bailout (which is likely) it will almost certainly happen here. The precedent has now been set and must be followed.

Methinks might be a good time to invest in some shares of a home safe company! Or perhaps a mattress company!! Could be a lot of money getting hidden under them!!

Please post in this existing Cyrus deposit thread.

Thread closed.