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Meer confiscaties van spaartegoeden verwacht
European politicos facing sluggish economic growth will definitely turn to the rich to take their cash, said one banking head, remarking on the potential for repeat in the raid on Cyprus savings.
The Telegraph cited Lars Christensen, head of Saxo Bank, as saying politicians would grab the easy option of confiscating wealthy assets, rather than enacting harsh austerity reforms.
There will be future bail-ins [loss of deposits] and other types of confiscation of wealth in the Eurozone with a doubt, Mr. Christensen said, in The Telegraph. Theres no other realistic way forward if politicians continue to fail to deal with the basic indebtedness problem across Europe.
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