So the reasoning is that Russian gangster money should be stolen so that EU bankster money can be protected at the expense of the taxpayer. Got it. The problem is in the eyes of the statist we are all criminals. If we are not currently a criminal the statist will fix that by passing more laws. Once a populace allows its government to seize an alleged criminal’s money without due process, then every person’s assets are now basically forfiet. As this is a key point in their history and there is no electoral means to remove parliament members considering this monstrocity, Cypriots would be wise to use ANY means necessary to stop this.
We see this state sponsored theft on a smaller scale in the US with asset forfieture laws. We allowed police to seize the assets of susptected drug dealers and now police department pad their budgets by stealing any property they can get away with. Google Motel Caswell for a fun education in this process.
No, the reasoning is - lets see if the European sheep notice that we are setting a precedent in confiscating private property to benefit a select group ~ the Evil Russian Oligarchy (another version of the VRWC) is simply held out as a decoy.
Cypriots would be wise to use ANY means necessary to stop this.
No one cares what the handful of Cypriots do, or do you see anything in the news about a public outcry in Europe that "Joe Six Pack" is about to loose 6% to 9% of his money to help save a few banks who made bad bets?
Russian gangsters EU banksters...what’s the difference?
If allowed to stand, we could easily see sudden “we need more money, take 1% of all little accounts and 10% of all big accounts” sweeping through the banking institutions.
Everyone wants to call taxes state-sponsored theft. But that’s what taxes are. Get over it. It’s not like you’re going to go round up a posse and hang Obama for the 2% haircut you’re taking this year.