Europe considers wholesale bank savings confiscation, enforced redistribution

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The Crisis” back in September of 2011, and everything that the depositors and citizens of Cyprus had to live through, seems on the verge of going continental. In a nutshell, and in Reuters’ own words, “the savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.” What is left unsaid is that the “usage” will be on a purely involuntary basis, at the discretion of the union, and can thus best be described as confiscation.

utopiathecollapse.com

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Published in: on February 14, 2014 at 17:59  Leave a Comment  
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