WTF, this post title is SO full of bullshit.
Spain isn't confiscating anything, nor are they touching bank deposits.
The central government is unifying and ALREADY EXISTING tax in many regions "comunidades autónomas" aimed at banks NOT customers. Not only are they not touching customers deposits, they are further protecting them by making it illegal with this new law for banks to transfer the tax to their customers deposits, it's expressly prohibited in the same law. Now, maybe the banks still try to transfer part of this tax to their customers indirectly via fees or whatever, but that is the same with any other private/public business that is taxed and has to figure out how to balance a new tax with their margins.
The law is meaningless in regard to making it illegal to transfer the tax. Taxing banks like this is a stealth way to tax people while looking like they are making someone else pay. Banks will just pay less interest to depositors to make it up, or charge more for loans etc.
PEOPLE pay the taxes, the money only comes from the effort of people, but politicians want the naive to see them saying "oh, we are protecting you" when in reality they just want to have extra money without calling it a tax on people and having the bank be the (hidden) tax collector for them.
