No, exact accounts were taxed. And there were a bailout, plundering accounts of exact people were a part of the deal.
If your bank has $10 billion in deposits and loses $5 billion, absent outside money, your accounts are getting a >>>50% haircut on average.
If Germany doesn’t cough up $5 billion, for your bank to give to depositors, that doesn’t mean Germany plundered your bank. Sorry if you can’t grasp the concept.
Banks got subsidies, citizens were plundered.
Without EU money being given to Cyprus, the citizens would be plundered even more. True story.<<<
No, factually you might be right to certain degree but devil is in details.
IMO, it was fair to let these banks crash and burn.
Here we see exact accounts belonging to exact people are plundered based on a sum of money (with the “rich” discriminated specifically).
Losing your money due to a bank bankruptcy is one case, being the bank client taxed (by EU decree!) for being rich for a bank bailout is absolutely another thing. Details matter.
That is exactly how communism works.
In that case, account losses would have been higher than the 7%-60% you mentioned earlier.
Losing your money due to a bank bankruptcy is one case, being the bank client taxed (by EU decree!) for being rich for a bank bailout is absolutely another thing.
You're right. In the latter case, clients lost less money.
That is exactly how communism works.
I don't remember Communism involving bank bailouts with foreign funds. Maybe you're older than me?