’Tax’ on Cypriots’ savings would have been theft

The government of Cyprus, under duress from the European Central Bank, was asked to approve the ‘theft’ of 10% of the value of all depositors’ savings.

Although it’s called a wealth tax or a ‘one-off tax’, to save Cyprus from bankruptcy, it is straightforward theft. The Cyprus parliament has correctly said ‘no’ to legalised theft.

The fact that the Irish government endorsed this theft says it all about the kleptocrats that we have in power. The current and previous Irish governments signed off on the Irish state, assuming the debts of privately owned Irish banks.