Poland Confiscates Half Of Private Pension Funds To "Cut" Sovereign Debt Load

Czyli z serii jak nas widzą na Dalekim Zachodzie: parę chaotycznych cytatów, trochę problemów ze zrozumieniem słowa "niekonstytucyjne" i całkiem dużo wyrwanych z kontekstu informacji jak na tak mało znaczący na świecie kraj jak Polska. Przynajmniej znowu nie pomylili nas z Portugalią.

"End result: "The Polish pension funds' organisation said the changes may be unconstitutional because the government is taking private assets away from them without offering any compensation.... (...)

Unconstitutional? What's that. But whatever it is, it's ok - after all the public pension system is still around. At least until that too is plundered. But in the meantime, all such pensions will be "safer",guaranteed.

But best of all, in the aftermath of Cyprus, we now know what the two most recent European blueprints for preserving the myth of solvency are: bail-ins, which confiscate deposits, and pension fund "overhauls", which confiscate, well, pension funds."