Greek Supreme Court Rules "Bank Deposit Confiscation" Against The Constitution

Tyler Durden's picture

While we are sure the governments and their IMF handlers will find a way around such annoyances as the rule of law, the Greek Supreme Court just ruled that the seizure of bank deposits due to debts to the state without previous notice was against the Constitution. We humbly suggest the Ukrainian courts be rapidly brought to a decision on the same ruling, before IMF hands start dipping into pockets.

 

As Keep Talking Greece explains,

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.

 

 

But the Supreme Court ruling may influence the current practice of tax authorities to proceed to so-called “electronic seizure of bank accounts” without previous notice.

 

This measure has been applied since 1.1.2014.

 

Tax offices and insurance funds are allowed to seize the amount of debt from salary, pensions and rents, provided 1,000 euro will be left in the bank account

 

More details of the Supreme Court ruling here in Greek

One wonders when the US Supreme Court would take up such a decision?

 

As a reminder, here is the IMF discussing their wealth tax idea...

The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair).

 

There have been illustrious supporters, including Pigou, Ricardo, Schumpeter, and—until he changed his mind—Keynes. The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away (these, in turn, are a particular form of wealth tax—on bondholders—that also falls on nonresidents).

 

There is a surprisingly large amount of experience to draw on, as such levies were widely adopted in Europe after World War I and in Germany and Japan after World War II. Reviewed in Eichengreen (1990), this experience suggests that more notable than any loss of credibility was a simple failure to achieve debt reduction, largely because the delay in introduction gave space for extensive avoidance and capital flight—in turn spurring inflation.

 

The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth.

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PlusTic's picture

Too bad your laws don't count...Brussells decides now since you violated your Lisbon Treaty debt covenants...welcome to the EU suckers

wee-weed up's picture

 

 

"While we are sure the governments and their IMF handlers will find a way around such annoyances as the rule of law"

--------------------------

Hell, Obozo does this a couple of times every day.

Ahmeexnal's picture

Time to rewrite all constitutions.

newsflash: Obamagabalus ordered by Exxon (Rockefeller) to avert war over Ukraine.

This is not a US vs. Russia war. It's an Exxon-Rosneft vs. Chevron-Shell war.

http://www.whatdoesitmean.com/index1757.htm

Critical to note, this report says, is that the 23 February Ukrainian coup d’etat was instigated by the US and EU after the Yanukovych government turned down US Chevron Corp’s and EU’s Shell’s “fuzzy-edge but claimed-as-enticing proposals” to accelerate investment in shale gas and shale oil E&P (exploration & production) in Ukraine.

Should the Yanukovych government have accepted the Chevron-Shell offer, this report warns, both Exxon Mobil and Rosneft stood to lose billions, but which (obviously) Tillerson was not about to let happen.

NoDebt's picture

"provided 1,000 euro will be left in the bank account"

Just enough for a decent gun and some ammo.

Anusocracy's picture

Government can't exist without the sheep to fleece but the sheep can surely exist without being fleeced by the government.

wintermute's picture

Meanwhile, the UK is giving powers to the tax dept to raid personal bank accounts.

Scum politicos

 

sessinpo's picture

NoDebt   Just enough for a decent gun and some ammo.

From escapee of Communist Romania

“There is a difference here in America, you know. Americans are armed. They will not allow such a takeover.” He replied, “It doesn’t matter. The Romanian people believed very strongly that Romania would never submit to communism, but it happened quickly. The Romanian people were armed, but it didn’t matter. Communists use informants. They get neighbors to report on their neighbors who have guns, then the authorities come and seize them. They use torture to get compliance. Many Romanian men were burned alive for not turning over their guns, and some didn’t even have guns, but the authorities burned them anyway just to strike fear in the rest. You have to understand that communists use a lot of torture.”

My heart quickened as I listened to these live witnesses tell me the inside story about a communist takeover. I tried one more time, “You don’t understand, Americans are armed with a lot more guns and a lot more ammunition than other countries.” He repeated, “It doesn’t matter. They have more soldiers than you have bullets, besides in this country they have sophisticated means. Americans will not stand a chance against this government any more than we did. Your guns will be good for one thing – looters. When things get bad enough you will need your guns to keep looters away from what you have. In Katrina there were a lot of people killed by looters because they did not have guns to defend themselves. For a while you will need guns to protect yourself from other Americans. Eventually the government will confiscate all of them.”

macholatte's picture

 

 

Will Venice join the EU?

rubiconsolutions's picture

It's pretty simple, we have to levy sanctions against Greece, maybe dispatch some drones, send in the Marines, all of that. Greece can't expect to go against the rest of the civilized world and assert its sovereignty. Don't they know that they invented democracy and the the EU and IMF have voted to take their wealth? Those gyros eating fools need to be punished.

 

 

 

/s

youngman's picture

I think the wealthy Greeks have moved their money out years ago..to some Swiss bank account I would guess...Politicians especially

ParkAveFlasher's picture

Wealthy Greeks own lots of factories and warehouses here in NYC.

SWCroaker's picture

Golf clap for the Greek Supreme Court.   They did their part.

cougar_w's picture

If "without prior notice" was the only problem they found then I'm pretty sure the government can get around that somehow.

Greenskeeper_Carl's picture

"good morning, serf, here is your advance notice we are stealing your money to pay for our pensions"

followed by an instant withdrawal from your account, before you can do what you should have already done, which is not have a bunch of money in a greek bank

that should do it, right?

WhoIsJohnGaltCoin's picture

Haters gonna hate,

Moochers gonna mooch.

I don't even want none of the above,

I want to mooch from you, yes I do, who who who, you you you

NoDebt's picture

When the hell is some country going to grow a pair and tell these "international organizations" to f-off?

I mean they could have been crawling out of the hole by now instead of digging it deeper by simply declaring defeat and repudiating the debt.

NOTaREALmerican's picture

Re;  When the hell is some country going to grow a pair and tell these "international organizations" to f-off?

Debt is like a narcotic.   Most people can't say no to the hope described in the "Keynesian" prayer.  Let's pray together and maybe you'll experience the exultation of debt:

We must borrow more money,
To stimulate demand,
So that jobs are created,
And prosperity ensues,
Then we pay off our loans.  

AMEN!     Did you feel in brother?   Did ya FEEL IT?  

Call, now, 1-800-IMF-LOAN for an ABSOLUTLY FREE debt consolidation loan.

But, wait, there's MORE....

Greenskeeper_Carl's picture

never, short of a (probably violent) revolt. those in the heads of these govts have too much invested in it, and their livlihood, and probably lives, depend on keeping the illusion alive. what is better for the people in the long run is not considered important. nice avatar, by the way

 

N2OJoe's picture

Non-violence is pushed so hard by these fags simply because NOTHING ELSE SCARES THEM!

seek's picture

Seeing as how it takes the US Supreme Court years upon years most of the time...

They'll take up such a decision too late to matter, that's when.

Ignatius's picture

"...Bank Deposit Confiscation Against The Constitution."

Well, that settles it then.  I feel better.

Oh, have they weighed in on free speach, guns, privacy or self incrimination (torture) yet?

Smegley Wanxalot's picture

Judge Roberts is okay with this as long as its called a savings tax.

 

NOTaREALmerican's picture

Too late,  we already took it. 

Na na na NAAA na.....

youngman's picture

If I was Greece..just say...give me the money no strings attached....there would be a lot of new rich Greeks in a short period of time...

asteroids's picture

If I lived in Greece, I would be converting my Euros to gold or silver.

madcows's picture

too late, they already took your life savings and bailed out the government.

Seize Mars's picture

There are only three laws, or rather three kinds of laws:
Laws that protect life, laws that protect liberty, and laws that protect property. Any other law or type of law costs you one if the above items.
Paraphrased from Bastiat

NOTaREALmerican's picture

There's also the sociopaths law: Laws are for dumbasses.

There's also the bullshit law:    X + bullshit = $ ^ bullshit.

There's lots of laws,  but the children are only told the ones that manipulate them.

agstacks's picture

The EU can just call this vote "illegitimate", right?

Schmuck Raker's picture

IMF: "Economic Hitmen wanted"

slightlyskeptical's picture

Greek Supreme Court will rule next that the loans are illegal. Kind of like when a Casino loans a known problem gambler money.

i_call_you_my_base's picture

It's not kind of like it, it's exactly like it.

cougar_w's picture

How else can you expect someone with a gambling addiction to gamble unless you bankroll them? Seems as sensible as a dictionary to me.

-- The Red Queen

adonisdemilo's picture

It's a bit late to question the rope round your neck just as the trapdoor snaps open.

 

Dewey Cheatum Howe's picture

Like Constitutions and courts matter after the fact...........

The people already failed and no paper or courts can protect against that, retroactively or otherwise as long as they keep being failures and enablers.

Its_the_economy_stupid's picture

Seizure of Bank accounts in good ol'USA for tax delinquency w/o notice is "game on" legal.

Seize Mars's picture

Worldwide, all "constitutional" documents have absolutely failed to control the scope of governments. The world's most free society has become the most totalitarian of all.
It's time for people to realize the truth. No law and no constitution can restrain the state. The only solution is a state-free society. You want peace? You want prosperity? Learn about how a stateless society is not only possible but is much more stable than the shitpile we have now.
Learn at mises.org

matinee55's picture

aided & abetted by a compliant fraudulent traitous media

madcows's picture

I wonder how it's going to go over in USSA?  Based on our previous SCOTUS rulings, I am sure my funds will be redistributed to bankers, hedge funds, unions and abortion clinics.

Is there a free and moral country left that I can move to?

NOTaREALmerican's picture

You'd have to define "free" and "moral". 

I think China is pretty "free" right now.    

Don't "morals" tend to limit the "freedom" of "others" to do as they feel "free" to do?

agent default's picture

Constitutional reform in Greece imminent. 

matinee55's picture

oh well, there you go again with that conspitation stuff that only subservents are subject to.  Next theft here we come

falak pema's picture

"I want my money back" becomes:  "I want my debt back and you can fuckee off! "

tony wilson's picture

 i was at one of those eyes wide shut rothschilds  parties last nite and i asked edwyne and jacob about this bail in stuff.

i said it did not seem like a nice thing to do  and certainly  not cricket what what.

lord edwyne gave me the most severe look of saturnic thunder.

he then  said tony what is your problem you cunt.

we give you the finest  satanic food and drinks.

you have been provided with many young childrem to slaughter, why do you have to bring these negative questions up now during fun time.

i said i was sorry,i left the circle and got my coat.

 

Peter Pan's picture

The Greek court can call the taking of money from the account unconstitutional but the reality is that ths man will not get his money back anyway. There is no money.

Just ask the doctors who are owed money by the government for medical services provided. They are obliged to delare this unreceived income and pay tax on it and cannot even set that tax bill off against the moneys owed to them.

piceridu's picture

Most judges and AG's in the US are captured. Either by their corporate partners or by the NSA. Either way, laws don't matter.

SharkBit's picture

World needs to smarten up and take a page out of Putin book.  Need to combat the West's hedgemony with similar approach to legal thinking and forming anti self-serving, institutional facades (read World Bank, IMF, UN).  I suppose Greece constitutional actions are better later then never.  But really world, pull your socks up.

sessinpo's picture

No the world needs to get rid of all big government. I wouldn't want to live under Putin anymore then I want to live under Obama. I want freedom

honestann's picture

Then drop the "big" from your comments to get real, honest and ethical.

The fact is, "government" does not exist.  ALL "governments" and ALL "corporations" have been called "fictitious entities" [in fundamental law, no less] for centuries, because once upon a time humans understood that they do not exist.  Only in modern times are humans so completely brainwashed and intellectually detacted from reality that they actually believe such nonsense.

What does exist are predators (and parasites, and producers, and prey), including those who are "predators-DBA-government" and "predators-DBA-corporations" and endless variations on the notion of "predators-DBA-authority" (or one fictional kind or other).

Until and unless a sufficient number of humans clearly understand that no "government" or "corporation" does exist, and indeed no "government" or "corporation" can possibly exist, all productive humans will remain grossly abused prey.

When a bunch of humans sit around a table, babble at each other, spread ink on paper to create a "document", then spread more ink on paper to "sign" the document, nothing pops into existence.  When the so-called "founding fathers" smeared ink on paper, nothing popped into existence.  There is no government.  Not federal, not state, not county, not municipal, not any.  And neither can there be.  What can and does exist are mental-units in human brains that refer to nothing, like "SantaClaus" and "ToothFairy" and "government" and "corporation".  These are called "fictions" by any human who bothers to distinguish what is from what is not... what exists from what does not exist... what is real from what is fiction (non-existent).

And besides... let's get real folks!  I mean, seriously!  Even if someone is not philosophically oriented, and finds simple thinking processes like the above to be too much effort or too confusing, the following observation is too easy to miss.

Take the situation described above... where a bunch of individuals smear ink on paper.  Who in their right mind would claim that a couple dozen individuals smearing ink on paper can possibly, even in their wildest dreams, legitimately obligate millions or billions of other human beings?  I mean, give us a break!  Even a person too dim to realize that any such notion is inherently absurd has to understand some of the practical problems involved.  Like, for example, any number of "a couple dozen individuals" can smear ink on paper and make similar claims.  And all these claims and supposed obligations are sure to contradict the others.  Which means, no deep philosophical thought is required to clearly understand that any notion even remotely similar to these are completely bogus.

Yet... look at the world we live in.  Look at the articles and comments in this web-site and endless other web-sites.  They ALL assume that these utterly, blatantly, obvious fictions are real... and somehow coherent and legitimate despite the inherent impossibility of being either.

The bottom line?  Every interaction between human beings is an interaction between human beings --- and nothing more.  There are no "authorities" or "representatives", and can be no "authorities" or "representatives", since the basis of both fictional notions are further fictions called "government" or "corporation" or "church" or whatever nonsense the predators-DBA-fiction claim.

Only when humans get real, get sane, and only think and act on the basis of what actually exists, can humans have any hope of success or "the good life".

Not only is all "money" today FIAT, fake, fraud, fiction, fantasy... but so are most of the ideas, concepts, mental-units that humans "think with" to make their most important choices and decisions.  How can anyone expect good to come from such complete and fundamental insanity as not being able to distinguish real from fiction?

Chuck Knoblauch's picture

The governor's call to stay execution is a little too late for Greece.

Leave the EU. Join BRICS.