[Rooters} WARSAW, Sept 4 - Poland said on Wednesday it will transfer to the state many of the assets held by private pension funds, slashing public debt but putting in doubt the future of the multi-billion-euro funds, many of them foreign-owned.
They'll be safer and appreciate more rapidly under gov't control, you'll see.
The changes went deeper than many in the market expected and could fuel investor concerns that the government is ditching some business-friendly policies to try to improve its flagging popularity with voters.
Deeper changes than expected you say? In Poland as well?
The Polish pension funds' organisation said the changes may be unconstitutional because the government is taking private assets away from them without offering any compensation.
Yes, more commonly referred to as theft, and coming soon to a country near you. |