“So, which one is socialist and which one is capitalist? You’re mad at the EU because they’re only going for 40% socialist. You think they should be 100% socialist.”
Not sure I entirely understand your point. To me, putting money in a Bank is not ‘an investment’, good, bad, or otherwise. Most people use banks as a place of ‘safe keeping’, as opposed to having it stuffed in your mattress. Obviously there was a time when people put their savings in banks to earn interest, but for most that is not the motivation anymore - given the meager interest rates.
So if a country spends itself into bankruptcy, largely because of providing an unsustainable socialist lifestyle for those who didn’t have the money to pay for it, why is it capitalism to then confiscate the money of those who didn’t need or use government handouts in the first place?
By the way. I have zero money in banks - with the exception of what I put in my checking account.
When you put money in the bank, you are loaning your money to the bank. They don't store it for you in the vault - they loan it out to their buddies to finance projects that might or might not be successful. If they get paid back by enough of their buddies, they'll be able to give you your money back. If too much is wasted on gambling junkets to Vegas and drugs, the bank closes, and you have to depend on the government to make you whole - or not.
I’m breaking my reply into two parts. Part 1 (USA):
“If you’re not paying for something, you’re not the customer; you’re the product being sold.”
Banks take risks with your money, period. If they did not, they would be charging you for the services they provide. The bank is acting as a broker between you (who has money) and someone else (who wants money). The bank is giving out mortgage loans, buying bonds, etc, with your money, and paying you for the privilege of having the use of your money with interest and services.
If you have your money in a bank and that bank fails, your money is insured (up to $100,000) by the government through the Federal Deposit Insurance Corporation. The money comes from insurance premiums that banks are legally required to pay the FDIC. You’re being charged (indirectly) to pay for the stupid decisions of poor bankers and their customers. If the FDIC runs out of money, it has a line of credit from the Treasury and you’ll be directly paying via taxes.
The FDIC is Social Security for your bank account. It, and other government deposit insurance, is socialism by definition.