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Isn't this policy basically in conflict with that? Might someone take this to the the ECJ?
by Metatone (metatone [a|t] gmail (dot) com) on Sun Mar 17th, 2013 at 11:58:54 AM EST
[ Parent ]
Here are a couple of Brits suggesting it is actually illegal:

@SharonBowlesMEP

Uber cross over #Cyprus bail-in of guaranteed deposits. Anyone up for the ECJ on this. Breach surely of Deposit Guarantee legislation.
@CharlesCrawford
On what basis is the #Cyprus bank deposit manipulation and seizures NOT a catastrophic breach of the most basic human rights under #ECHR?
But who cares? The economic damage will be done well before the legal challenges are even lodged.

What possible redress is there here?

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Migeru (migeru at eurotrib dot com) on Sun Mar 17th, 2013 at 12:44:40 PM EST
[ Parent ]
Well, hard to argue with that.

I guess I hoped that if a number of challenges were brought forward quickly, it might force a rethink of the policy.

Because, as Starvid notes, this policy is really dangerous and likely to promote bank runs across the periphery...

by Metatone (metatone [a|t] gmail (dot) com) on Sun Mar 17th, 2013 at 12:56:19 PM EST
[ Parent ]
"Might someone take this to the the ECJ?"

I would. Arguing falsa demonstratio non nocet and that this is a tax in name only.

by IM on Sun Mar 17th, 2013 at 02:45:02 PM EST
[ Parent ]

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