No Hungary, Argentina and France have all done massive overhauls
So, did they seize private individuals retirement savings accounts? No, they didn't.
and Argentina flat out seized private retirement accounts.
You need to read up on why that was done. It did not involve "private retirement accounts." It involved some, but not all, of government insured corporate pension plans which were going bankrupt due to market losses on those funds' investments during the 2008 stock market crash.
The government took over those plan's assets and guaranteed the pensions of the members of the plans.
Russian your usually an informative poster
Yes, I am.
but on this your just not informed
Yes, I am. It is YOU
who is making up your own facts.
have you not read about what is happening in Cyprus either?
Of course. I know more about Cyprus than you do. I know the annual GDP of Cyprus is less than one quarter's profit of Apple Corporation.
I also know the idea of taxing bank deposits was the EU's attempt to punish Russia for using Cypriot banks as money laundering ATM's for Russian oligarchs. The amount of Russian oligarch money in Cypriot banks is 3 times more than the annual GDP of the entire country of Cyprus.
Why do you think Putin and his oligarch cronies got so involved in trying to bail out the Cypriot government? It wasn't because the Russians are kindhearted. It's because if the deposit tax had been passed (it wasn't by a 36-0 vote of the Cypriot parliament) Russian oligarchs would have lost over $3 billion of their money in the Cypriot banks. It was the EU's way of telling Russia since they helped break Cyprus' banks, they were going to help pay to fix them. The Cypriot parliament members likely were visited by some flat-head Russian mafia types explaining why it would be in the parliament's best interest to vote down the deposit tax.
It is YOU
who needs to get familiar with what is really happening in Cyprus. I will not post in this thread again unless it is moved to the Poli Board. A thread like this is more political than it is finance related. I've RA'd to have it moved to the Poli Board. We don't need to muddy this board with political discussions. I hope others will also request it be moved.