Greek Supreme Court: Seizing Bank Deposits Unconstitutional.

http://s1.reutersmedia.net/resources/r/?m=02&d=20120917&t=2&i=653808697&w=&fh=&fw=&ll=580&pl=378&r=CBRE88G16QI00

 

The Greek Supreme Court has ruled that seizure of bank deposits to pay debts to the state is unconstitutional. This means that the Greek Government is not allowed to seize depositor’s money to pay the debts of overleveraged bankers.

As Keep Talking Greece reports:

Greece’s Supreme Court ruled that the seizure of bank deposits due to debts to the state without previous notice was against the Constitution. The judges had taken up a debtor’s complaint filed in 2006. The debtor had seen his pension being grabbed from his bank account due to debts to the tax office.

The court ruling is provisional, judges are expecting to take the final decision on a session on May 5th 2014.

For once, some mildly good news out of Greece. This ruling makes it more difficult for the famously corrupt and inept Greek Government to steal from citizens. This also puts crooked and/or stupid bankers back on the hook for debts incurred to the state, as opposed to just throwing away depositor money and getting off scot-free.

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