Greek Authorities Planning to Raid Deposits of Citizens to Cope with Financial Collapse

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[vc_row][vc_column][vc_column_text]As the world watches Greece crack under the weight of decades of irresponsibility, Americans should take note and remember that this is precisely where the United States is heading.[/vc_column_text][banner300 banner=”5517620b381df”][vc_column_text]The Mediterranean country has thrown-up their hands in desperation, unable to repay their debt and, seemingly, unwilling to deviate from their socialist policies that delivered them unto their current fiscal troubles.

However, while this news is troubling, the country’s response is even more frightening as their “Plan B” for financing their failed economy is to rob from those who dared to save for themselves.

Greece is reportedly looking to skim from deposits made by citizens in order to recapitalize Greece’s banks.

The Financial Times reports on the ludicrous plan:

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday.

 

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

 

A Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over €100,000.

 

It would be implemented as part of a recapitalisation of Greek banks that would be agreed with the country’s creditors — the European Commission, International Monetary Fund and European Central Bank.

What such a policy demonstrates is the relentlessness with which the left pursues their warped understanding of economics.

For decades, Greece has made poor choices that center on funding the poor while excessively taxing the rich. Now that they are on the brink of collapse, Greek authorities are, once again, looking at the producers of their society to save the collapsing financial structures.

While we in the U.S. might scoff and believe that such a thing could never happen on our soil, it should be noted that this mindset is revisited constantly: as we encounter crisis after crisis, the left crusades for us to turn back to the well of cash provided by taxpayers. With such calls as demanding that the “wealthy pay their fair share,” America’s top liberal lawmakers echo the sentiments of the failing Greece and still, rampant spending continues with the assurance that should the U.S. find themselves in dire straits, the “rich” will surely bail us out.[/vc_column_text][/vc_column][/vc_row]

About the Author

Greg Campbell
Greg Campbell
An unapologetic patriot and conservative, Greg emerged within the blossoming Tea Party Movement as a political analyst dedicated to educating and advocating for the preservation of our constitutional principles and a free-market solution to problems birthed by economic liberalism. From authoring scathing commentaries to conducting interviews with some of the biggest names in politics today including party leaders, activists and conservative media personalities, Greg has worked to counter the left’s media narratives with truthful discussions of the biggest issues affecting Americans today. Greg’s primary area of focus is Second Amendment issues and the advancement of honest discussion concerning the constitutional right that protects all others. He lives in the Northwest with his wife, Heather, and enjoys writing, marksmanship and the outdoors.
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