Kleptocracy= Rulers who use political power to steal a countries resources
Its quite clear to me that EU govts in the eurozone are quite prepared to act immorally in sequestring private property to protect the euro.
These acts have destroyed trust which is the basis of all sound commercial and banking activity.
The following quotation is from an article describing how the EU has now become one giant estate of 500 million serfs working to keep rich banks afloat and to protect an unviable currency the EURO
Source EU?s kleptocratic intentions to result in confidence crisis ? RT Op-Edge
Patrick L Young has written :"The truth is that as confidence has drained from the EU, now trust too is evaporating. The recent acts - whether enacted or not - in Cyprus has delivered a hammer blow to the credibility of Brussels as a trustworthy steward of anybody’s finances. Beneath a thin tissue of brazen statements of confidence there lie festering sores of economic mismanagement going septic as a result of previous poultices and treatments which are more voodoo than economics.
Jeroen Dijsselbloem, the Dutch Finance Minister has poured fuel on the flames of discord by noting that ‘bailing in’ depositors would henceforth be a Eurozone tenet for rescues. In other words totalitarian appropriation is now a Brussels policy. If ‘totalitarian appropriation’ is too big a word for this time of the day, dear reader, just spell it t-h-e-f-t. That’s close enough.
The kleptocratic intentions of the EU will not go unnoticed and a confidence crisis will result both within and beyond the two-tier Eurozone. Meanwhile Spain has a weak government, Italy has no government and the French have something that is more like a group of middle-aged student idealists squatting in the Elysee palace until a leader comes along.
Ultimately trust is the glue which binds together trade and prosperity".
Charles Hugh Smith has also written an excellent article describing this theft process and I quote as follows
charles hugh smith-500 Million Debt-Serfs: The European Union Is a Neo-Feudal Kleptocracy
500 Million Debt-Serfs: The European Union Is a Neo-Feudal Kleptocracy
Kleptocracy, alternatively cleptocracy or kleptarchy, from the Ancient Greek for "thief" and "rule," is a term applied to a government subject to control fraud that takes advantage of governmental corruption to extend the personal wealth and political power of government officials and the ruling class (collectively, kleptocrats), via the embezzlement of state funds at the expense of the wider population, sometimes without even the pretense of honest service. The term means "rule by thieves".
This following articles gives detailed information on how EU funds are being abused by govts.
Kleptocrats Raiding Eu Funds | International
As a previously committed supporter of the European project I have lost total confidence in it and now see the EU as a malignant monster greedily devouring its people in order to prop up a failed currency the Euro and big banks by literally stealing money from its citizens.
In Ireland the types and extent of taxes now being imposed are truly penal in nature and can only further destroy the economy. The politicians in thrall to the bankers do not care as long as they receive their pound of flesh.