Germany Generously Offers To Freeze The Bank Accounts Of Wealthy Greeks | WHAT REALLY HAPPENED

Germany Generously Offers To Freeze The Bank Accounts Of Wealthy Greeks

Back in 2013, when one cuts through the rhetoric and posturing, what the Cyprus depositor bail-in and subsequent capital controls were all about, was an attempt to confiscate deposits of ultra-wealthy Russian billionaires held the banks of this beloved by the Russian oligarchy offshore tax haven. At least that was the theory: in practice the wealthiest Russians got advance notice of what the Greek government in collaboration with the Eurogroup was planning, and quietly moved their funds to even safer offshore venues, leaving the local population to pick up the pieces.

Fast forward two years later, when Greece is on the verge of complete monetary collapse and which is now scrambling to "borrow" funds from local pensions and other public sources of scarce capital just to remain in compliance with IMF debt repayments and avoid a hard default. In fact, according to some, Greece may not have the funds to make its next mandatory payment due on April 9 to the IMF with the long overdue Greek exit from the Eurozone to follow in due course.

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