New Eu Law - Taking Money From Savers

[bond]

Hi, I have searched this and found various answers, so not sure what is the truth. Some are saying that the EU passed a new legislation on 1/8/13 to allow the government to effectively "take" peoples savings to bail out any further banking crises (like what happened in parts of Cyprus). If it is true, does it apply to the whole of the EU, or just to Eurozone countries? And how does the FSCS policy of guaranteeing our £85K apply in this scenario. I don't trust our government for one moment with something like this, let alone the EU powers that be. Your thoughts and knowledge please. Thank you.

[factor-fiction]

I wouldn't worry about it. If the government desperately needed money it would get it from us by some means or other

[factor-fiction]

If you can find a link I'd be very interested to see it.

[ichkeria]

No idea but if you put your money in a bank and it goes belly up then unless the government is prepared to bail the bank out (as happened last time) then you've had it of course. During the Cyprus crisis the Cypriot government imposed a tax on savings to repay the national debt.

[factor-fiction]

Cyprus is in the EU and the EU approved the taxation/appropriation of some savers' savings earlier this year, so no new legislation was needed. I'm not sure what you have heard