Cyprus Bank Deposit Tax Sets ‘Dangerous Precedent,’ Says IIF Head
By Lesley Wroughton | March 19, 2013
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Sure, just dip into bank savings accounts and grab ten or fifteen percent of the balance. What could possibly go wrong? Yikes…
With bone-head moves like this, you wonder how these countries have lasted so long.
And who is to say it couldn’t happen here in the USA. I’d like to see our elected officials propose a law prohibiting this kind of a move. Hopefully it would have enough backing to pass the Senate and the House and the President could sign it into law. If it didn’t pass or if he wouldn’t sign it into law we’d at least know what option some of our elected officials wanted to keep open.