vrijdag 27 juni 2014

Spain's tax on deposits

Today I read about the new tax on Spanish bank deposits.

I wonder how fast the deposit outflows will accelerate in Spain's case, because the trend is not good. See the precipitous decline in Spanish deposits (green). I'm waiting for the May 2014 numbers to come out soon.

I also think the negative rate from the ECB will have its effects soon.

Actually, a tax on deposits is just the same as negative interest rates. It all comes to your money being routed to the government either through inflation or through taxes...

Eurozone deposits

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