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To: catnipman

European nations begin seizing private pensions

http://www.csmonitor.com/Business/The-Adam-Smith-Institute-Blog/2011/0102/European-nations-begin-seizing-private-pensions


19 posted on 01/31/2015 8:44:52 AM PST by Rusty0604
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To: Rusty0604

None of these was a successful confiscation of existing private retirement accounts. The closest was in Hungary, but even there you could keep your account if you gave up Hungarian social security payments, and in Hungary they were trying to confiscate a measly 14 billion, hardly on the same economy-shattering scale of confiscating hundreds of trillions.

The rest of the cases were either cutbacks and/or redirection of public retirement funds similar to our bankrupt social security fund, or failed attempts at private confiscation. Additionally, people had plenty of warning before the attempts were made, in fact, enough warning that all but the Hungarian attempt at private fund confiscation were simply dropped due to political pushback.


22 posted on 01/31/2015 9:03:34 AM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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