Greece-EU: For the record. The European Commission is helping Greece negotiate an agreement with Switzerland to repatriate as much as $81 billion believed to be in Swiss bank accounts, a high level European Union executive body official said on 17 November. The European Commission is working with Switzerland and Greece to stop what it believes is an ongoing exodus of money from Greek bank accounts into Swiss and other offshore banking centers, the EU official said.How are we to look at this?
Comment: Greek account holders broke no laws in safeguarding their wealth in Swiss bank accounts, but they stand to lose a great deal under a repatriation agreement, which amounts to national expropriation.
- Is this a morality play in which the rich are being punished for being rich and following their self-interest?
- Is this a case of the rich being overly rich, since they got that way because it was everyone else who built the road, etc, so they could then use their smarts and skills to get rich and now it is payback time?
- Is this a case of the rich being the available deep pockets?
- Is this a case of the Government doing what it must to stay afloat and it doesn't matter who gets hurt, as long as they can get re-elected next time around?
Regards — Cliff