Rumours of the EU imposing a 10% charge on all EU savings accounts.

Couple of links here...
http://hat4uk.wordpress.com/2013/10/...u-levy-scheme/

and here...
http://www.keeptalkinggreece.com/201...debt-problems/

It happened in Cyprus so get your money out of the banks before they rob you.

Are you saying that the tax would be on money in banks in the eurozone, so money in UK banks would be safe, or does it affect all bank accounts in the EU? if so can you imagine the reaction?
Also would it be on an amount over a certain level, like in Cyprus?

What better way of getting the EU back on its feet (and welding the individual countries closer) than a tax - maybe 8% would do the job, across all EU countries savings. The IMF could divvy it out. The EUSR mandarins like Barosa would back it in a jiffy.

Something has to be done because many countries debt is totally unsustainable including the UK where debt has continued to rocket under that idiot Osbornes guidance.

There might just be a "reversion" to the gold standard(with associated rocketting in gold prices) to sort the worldwide debt problem out.

If this ever happened, then I would go completely off the grid and never pay another penny of tax in my life (or as little as I could try and get away with)

After all, if after paying all the current taxes they still can rob you whenever they feel like it, then there really is no point, and no moral authority

That's the reason why it's not going to happen

OMG.........OMG..............OMG.

Whatever would your sister in law say, you know the tax lawyer......

I would be a bit unfair on you if they took your wonga
especally after you voluntarily handing over 30k.

I bet that slimy Jackytoo, has got all her money out......and she got away with 25k IHT.

If I read the article correctly, it says EU and NOT EuroZone so this would include the UK.........

It also says, discussion, so no plans at the moment, probably just someone at the IMF floating an idea.

Looks like another trip to the Caymans then

Seriously I still don't see the Euro surviving.

The only problem is any black money we want to invest in the Caymans, is all in coins.

So the excess baggage charges would probably outweigh the tax advantages.

If it's not enough that you can get naf all interest on any savings you have, and the bankers etc screwed up our savings years ago, and they are all getting big bonus' still, now they want to put an extra tax on our savings?

I forsee general disquiet, huge money withdrawals ..... and of course an excellent way to make people who normally respect the laws to go underground ... as well as another step towards destruction of the eurozone

reading the second link it states at the beginning:

One of the latest reports from the IMF discusses a super taxation of 10% on savings in the
Eurozone. That would solve the debt problem in most sovereign countries. It would be an
alternative of higher taxes or spending cuts.


Which is just as well given the feelings in the UK re the EU, my view is if they levied this in the UK it would make sure any vote would be against staying in They say the Euro is not a disaster I think I just saw a pig fly past.

I'm not sure about the destruction of the Eurozone, it seems to be pretty well established now.

But I'm sure that if you tax people's savings in the way envisaged, then like the normally calm Cman, they will become enraged enough to lose any respect for the authorities and the law.

It's a self defeating measure by the authorities, enraged people will refuse to pay taxes and defy the law.

In extreme cases it will be back to our famous highwayman back home.

'Stand and deliver.'

Events may prove me very wrong. But I suspect these articles are exploiting people's fears and uncertainty and taking aspects of the EU's banking reform regulations and using them to create a panic.

The idea of a bail-in in the case of banks which get themselves into trouble in the future is inevitable, I think. If their own shareholders and depositors, and the senior employees drawing massive salaries and bonuses, aren't the ones who have to shoulder the burden when things go pear-shaped as a result of the bank's risky and irresponsible behaviour, banks will just go on in the same disastrous way and the taxpayers in various countries will just have to keep picking up the pieces because they are "too big to fail".


http://www.ecb.europa.eu/press/key/d...130930.en.html

Even if the IMF has floated the idea of a super-tax on savings, that wouldn't mean that countries would adopt it. Only a couple of weeks ago the IMF said that Spain should increase IVA and not have any items lower-rated, just tax everything at 21%. The Spanish Government has already said it will not do any such thing.

Wait and see, but I suspect I will be adding this one to the list of calamities that were just about to fall upon our heads - but didn't.

The games not over yet. Spains debt to GDP will reach 100% in 2014.

http://globaleconomicanalysis.blogsp...terest-on.html

And yet, Spain's borrowing costs are continuing to fall:-

http://online.wsj.com/article/BT-CO-...17-702535.html

Levels of sovereign debt are already over 100% to GDP in Greece, Italy, Portugal (and in the US too, incidentally). The world has not yet come to an end as a result.