The Phaserl


Germany’s Central Bank Proposes “Wealth Tax” On Depositors

from Gold Core:

Eurozone governments vulnerable to insolvency such as France, Spain, Italy, Portugal, Greece and Ireland should impose a “wealth tax” on their citizens, Germany’s Bundesbank proposed yesterday.

The German central bank raised the idea of an emergency “capital levy” in its monthly report. The Bundesbank said that the levy would have to be a one-off “imposed in conditions of extraordinary national crisis”, in order to limit negative consequences for investment, and potential capital outflows.

It acknowledged that a nation in crisis would have difficulty making a convincing case to depositors and investors that any such levy would be a one-time measure.

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