The problem changed early this morning (after the "agreement" between Cyprus and the EUROZONE) when "Cyprus" apparantly accepted a 10 billion Euro Loan and also accepted to "tax" bank deposits of more than 100 000 Euros.
The full details of this "agreement" are not, at this present moment, decided or available for the public.
In good English, the situation is as clear as mud !!!
The legal situation has changed, even if only slightly !!!The Eurozone obliges Cyprus to tax only "Big" deposits above 100 000 Euros !!!
1) Are the Human Rights of a few clients with much larger deposits not infringed because not "all" loans to Banks are taxed ?
2) Does the Eurozone have the right to oblige Cyprus to impose such a tax ?
Cyprus has, it seems, also vowed to guarantee loans below 100 000 Euros (essentially to residents) even if they are not insured !!!
All these problems appear to have a legal aspect which could end up in a court case. They must be quickly covered in the "Final Agreement" before depositers of large amounts take action !!!
These depositors are perhaps "Billionaires" but, what have they really done wrong ? If anything, such accusation must also be proved !!!
Perhaps all they did wrong was to choose the "wrong tax haven" before Cyprus lost control of its finances, with bad loans to Greece for example ?
This is now a "wait and see" situation !!! Let's wait to see what the final "agreement" says !!!
.
No comments:
Post a Comment