Bank Deposits Confiscation: Global Outlook
In March 2013 the events in Cyprus shock the world to hit the radar screen of world media. The bank deposits were confiscated. Some tried to make it look as an emergency measure, an exclusion from the rules that define banking activities and the functioning of market economy. But there is a solid ground to believe the confiscations are to become a routine feature of everyday life.
Deposit confiscation: a well-planned impromptu
The events were normally painted as some kind of poorly planned ad libbed decision on the part of the European Union carried out by Cyprus government. It was a one-time action, a step taken under the pressure of circumstances. We view it differently, in our opinion it was a well prepared concerted action approved at top level including actors outside Europe. The very operation should be defined as a precedent, an experiment or a test. Or, to…
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