New law to allow deposit confiscation proposed by the EU

[alexeft]

According to Greek media, the EU are thinking of proposing a new law that will allow confiscation of deposits that are above the guaranteed level in case a bank develops problems. The guaranteed amount is 100000 euros. Any amount above that is not insured. The law is supposed to become active in 2015.

Here's a link for those that can read Greek. http://www.ethnos.gr/article.asp?catid=22770&subid=2&pubid=63810716

Comments? 

[Crazy]

So put your money in BTC and lose 50% of it in 4 hours. Good idea, bro.

[alexeft]

So put your money in BTC and lose 50% of it in 4 hours. Good idea, bro.

No currency can do anything for panic. BTW the price is $160 on gox right now!!!

[Rincewind]

So put your money in BTC and lose 50% of it in 4 hours. Good idea, bro.

Or gain 400% in under a month! 

[blockbet.net]

Not to be a hater but I would strongly prefer a source that is not from Greece or Cyprus.

[Elwar]

The FDIC already moved forward with this in the US and UK.

“A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds. ”

http://www.webofdebt.com/articles/big_brother_basel.php

[manfred]

Wont be a worry for most people (more than 100 000 euro in bank)
Its just another stimilus to get economy going, either spent it or loos it.

[Operatr]

Anyone smart will dump their bank account wherever you are ASAP. These idiots can't fix the economy, and simply stealing private citizen's money is an act of desperation because they couldn't do it by using our tax dollars either.

Circling the drain, get out while you still can

[Acesbomb]

Not to be a hater but I would strongly prefer a source that is not from Greece or Cyprus.

I read this in the Irish media too. Governments of Euro Zone selling out their people to the political classes.

[Operatr]

Not to be a hater but I would strongly prefer a source that is not from Greece or Cyprus.

I read this in the Irish media too. Governments of Euro Zone selling out their people to the political classes.

They are just driving them to Bitcoin in droves with their financial gestapo tactics. Cyprus set the precedent and now people know there is a way out of the financial hellzone they found themselves in. 

Trust in banking and government is falling fast in the public, Bitcoin may see its biggest rise yet soon as more of this kind of blatant theft continues.