Hungary, Bulgaria, Poland call for citizens' savings
(NEWSER) - As European governments seek new sources of revenue, private retirement plans are taking a hit. Since most are organized by the state, "European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this money for their own ends," writes Jan Iwanik for the Christian Science Monitor . Iwanick highlights five such schemes:
- Hungarians last month had to choose between handing the government their retirement savings or giving up their state pensions.
- In Bulgaria, the government called for $300 million of private early retirement savings to be moved to state pensions; trade union protests weakened the plan.
More»