Tag germany

Banks May Seize Your Small Savings

Most of us are aware of the Financial Crisis, when the Government seized amounts from the Bank account of small investors to manage its financial crisis, which triggered of a run on Banks . by people rushing to ATMs to withdraw their cash.

To defuse the situation the EU ,along with the creditors mainly Germany, made out a Bail plan and since it was suggested as being unworkable, a new package was devised.

Under this dispensation,Deposits under 100,000 euros will be protected.

The reasoning behind this is that these amount are (small amounts) are protected by Insurance!

I fail to understand that the Government will be losing the money appropriated ((or Misappropriated) by way of the payment by the Insurers.

Even if the Insurance firms belong to private Sector, it will drive inflation further.

I do not know which Economic Genius thought out this plan!

More than this is an interesting perspective from the 'Business Insider"

Now banks in EU may tap and seize your savings!

How long will it take to reach India?

I have been voicing about the inefficacy of the Keynesian Economics in my columns for quite some time.

First came Argentina,then Greece, Ireland,now Cyprus.

Western countries rm down an economic system which is not savings oriented, but spending oriented on unsuspecting Nations by way of lending and squeeze when the Note is duel like Germany has done now to Cyprus.

Shadow World Of Arms 1 Major Suppliers Reasons

At the practical level, as the investment is huge for these Industries and you can not afford to keep them idle, they are continued to be manufactured.

But the requirement for the Country's consumption is limited.

Continuous production implies additional investments, that too ,on a large-scale is required.

So the countries that manufacture Arms, export, though paying lip service to" Ban of Arms exports'.

Main Arms Suppliers are :US,Canada,Britain,France,Italy,West Germany(with certain banned manufactures under 1954 Paris Treaty,Sweden,Switzerland, Spain,Belgium, Israel and South Africa.

Of these Western nations, Sweden and Switzerland are neutral Countries, bu still they make finest Weapons.

Israel and South Africa, unsure of their stand in the world of Importing Arms because of their peculiar political situations , have their own Industries.

The other countries are linked by NATO Treaty.

The mutual export and Import is not a problem for them.

Smaller countries requiring import from any of these countries have to get cleared by the War Office and the foreign Office of the respective countries they want to import from.

Major West European Suppliers.