While France's Hollande and Spain's Rajoy are double-teaming the 'unique, exceptional' nature of Cyprus, the non-template nature of the 'deal', the need for Europe-wide guarantees, and that the ESM should be used to recap banks and not depositors, none other than Dutch FinMin Dijsselbloem is at it again as he admits what many have suspected:
- *DIJSSELBLOEM SAYS LEVY ON WEALTH IS DEFENDABLE IN PRINCIPLE
and, as if responding to the desperate French and Spanish leaders:
- *DIJSSELBLOEM SAYS DEPOSIT GUARANTEE SYSTEMS ARE NATIONAL
It would appear our views are increasing appearing true - that a wealth tax is coming in much more systemic a manner than many expect currently.