Poland confiscates half of citizens’ pensions

Attempt to delay European nation’s looming debt crisis

(WND) NEW YORK – Quietly, as the looming possibility of a U.S. military attack on Syria dominated news internationally, the government of Poland announced a decision to confiscate half of the nation’s pension funds in an attempt to delay an impending government debt crisis.

While details remain hazy, Reuters reported Sept. 4 that Polish Prime Minister Donald Tusk announced a government decision to transfer to ZUS, the government pension system, all bond investments in privately owned pension funds within the state-guaranteed system.

 For now, private pensions in Poland will be allowed to keep equity investments that in the Polish state-guaranteed pension system tend to be approximately half of all private pension investments.