According to this Wall Street Journal article, the degenerate Brussels authorities are trying to ensure that those who invest in money market mutual funds will be guaranteed not to lose money. I.e. everyone will be guaranteed to get X Euros back for every X Euros put in.
Well that will make those bureaucrats and politicians popular, won’t it?
Of course it’s all a nonsense, because as the WSJ rightly points out, there is no such thing as a risk free investment.
Next thing those bureaucrats and politicians will be ingratiating themselves with voters by guaranteeing that no one who invests on the stock exchange will lose money, and no one buying a house will lose if the value of the house falls. Plus anyone who sets up a business will be guaranteed a profit (at the taxpayers's expense).
Then after that, they’ll promise the plebs that no one needs to work.
Plato, the ancient Greek philosopher said that democracy would not work because the people would vote themselves all sorts of goodies which the country could not afford. He was either right or very near being right.