Thursday, March 24, 2011
"European nations begin seizing private pensions"
A cautionary tale.
When governments get out of control, ANYTHING can happen.
How about: could some pensions be seized, while others are not?...
When governments get out of control, ANYTHING can happen.
How about: could some pensions be seized, while others are not?...
Jan Iwanik included this in a story at CSmonitor.com:
"The most striking example is Hungary, where last month the government made the citizens an offer they could not refuse. They could either remit their individual retirement savings to the state, or lose the right to the basic state pension (but still have an obligation to pay contributions for it). In this extortionate way, the government wants to gain control over $14bn of individual retirement savings."
