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New Ukrainian government pulls a Cyprus and seeks to tax bank accounts

Bank Bail-ins
Bank Bail-ins
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When the Ukrainian people overthrew the duly elected President in late February, the office of Prime Minister was quickly filled by a technocrat, and member of the European banking establishment. Thus it is not surprising when on March 20, the interim Ukrainian government is going ahead with plans that follow the path of Cyprus, and are instituting a tax on bank depositors and account holders, and are bringing the program of bail-ins to the Eastern European country.

*UKRAINE TAX PROPOSAL WOULD INCLUDE 1.5% OF ALL DEPOSITS - Ukraine Finance Ministry announcement, March 20

Additionally, this 'tax' comes just two weeks after Ukraine's parliament brought to the floor a new proposal to implement a 25% tax on anyone making over a certain amount of earned interest.

Ukraine's parliament is to consider draft laws which would ban foreign-currency bank deposits and introduce a 25% tax on interest on deposits in banks and other financial institutions in circumstances where the interest received is more than 5% above the rate set by the National Bank of Ukraine. Tax News

For six years, Ukraine has been negotiating with the IMF on borrowing billion of dollars to help stabilize their collapsing economy, and help pay off energy debts they owed to the Russian Federation. These negotiations had finally reached an impasse in February of this year, leading the former Ukrainian President Viktor Yanukovych to change course and reach out to Russia for assistance. Russia agreed, and was in the process of securing $15 billion in low interest loans when a NATO and U.S. supported coup took place, and overthrew Yanukovych in favor of the IMF and EU friendly former banker Arseniy Yatsenyuk.

It is not coincidence that the 'Ukrainian Winter' uprising occurred after the government chose to bypass the IMF and the EU, and instead chose to join the side of the Russian Federation at a time when the Western financial powers are teetering towards collapse, and overrun by scandals. Thus like the wars over Iraq, Libya, and Syria in recent years, the West, and in particular the United States, are using overt and covert means to ensure that the Petro-Dollar system remains the reserve currency to the world. And for Ukraine, the playbook that was used in Italy and Greece and Cyprus is being played over again in their nation as the West facilitates the installation of bankers and technocratic leadership in the new government, and then uses bank bail-ins to help fund insolvent financial institutions for debts the Ukrainian people didn't create.

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