“While Spain’s economy minister Luis De Guindos proclaimed in the Senate today that bank deposits under EUR100,000 are ‘sacred’ and that ‘Spanish savers should stay calm,’ Spain, it would appear, has changed constitutional rules to enable a so-called ‘moderate’ levy on deposits- as under previous Spanish law this was prohibited. For now, they claim the ‘levy’ will be ‘not much higher than 0%’ and is mainly aimed at regions in Spain that have ‘made no effort to collect taxes’ based on new revenue expectations.”

http://www.zerohedge.com/news/2013-03-19/spain-preparing-its-own-deposit-levy

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