Compulsory levy: Secret Preparations have begun worldwide

Charleston Voice

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 | 22.03.13

The global debt crisis world could follow the Cyprus model. Spain, New Zealand and Britain have quietly begun to create the legal framework for compulsory levies.  

The compulsory levy on Cypriot bank balances is apparently not at all out of the blue. In several other countries in recent months laws and rules were changed so that the access to bank credit in the event of distress is protected by law.

In Spain, the Constitution was amended recently: A bank tax, which is recognized in the Constitution nor with 0 percent, is therefore already possible. This could be the passionate defense of bank deposits by Economy Minister Luis de Guindos explain (here). The amendment to the Constitution established Finance Cristobal de Montoro the fact that Spain was obliged to make tax equity between regions. The exact amount of the bank levy will be set in an implementing law.

In the UK, the banking rules were changed so that the Deposit Guarantee Fund can also be used for a bailout. Specifically this means that an institution is in trouble device, it can rely on the security deposit. Break the bank then together anyway, the money of the bank-customer is no longer guaranteed. You have to adjust to a total loss.

In New Zealand, the central bank is planning a similar measure. Greens politicians have protested. There was a risk that the assets of the customer can be eradicated so.

In Germany, no such measures are known.

The background for this is probably that secretly introduced measures that gigantic debt apparently also by controlled inflation can not be washed away. Given the level of risk, mainly from asset-backed securities ( the art of ECB Foreign Minister Joerg Asmussen ) and other derivative transactions for inflation to solve the global debt crisis is obviously not fast enough loss.

One thought on “Compulsory levy: Secret Preparations have begun worldwide

  1. This news, in various forms, and the recent events in Cyprus, will probably have a devastating effect on people’s confidence in currency, banks, and governments world-wide.
    And due to the probability of global bank runs ensuing as a result of this news, you can now predict the timing of the economic collapse with a lot more certainty; any day now.
    I think we’d be very lucky to see another month or two of normal economic activity.

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