This dissertation follows the evolution of the European Union, from the first attempts to
cooperate and attain common goals, to its present situation. The fundamental principles and
objectives of the Union form the foundation of this thesis. Subsequently, the implications and the
impact of the financial crisis, which emerged to Europe, led to a severe deterioriation of long
established social rights and distrust to national governments and European Union institutions, as
well.
As it addresses audiences that share an interest in European monetary policy during the
crisis, it focuses on the case of the Greek debt restructuring and the private sector involvement
(PSI), the levy that was imposed on Cypriot bank accounts and the passing of European legislation
regulating the confiscation of depositors throughout the European Union, whenever a bank is in
need for recapitalization and the bail-in of shareholders' and bondholders' is not sufficient. The
infringement of Constitutional provisions both in Greece and Cyprus through these interventions,
mainly decided by the present leadership of the Union, is discussed.
Moreover, there is an introduction of the related provisions to property right of the Charter
of Fundamental Rights of the EU (2000/C 364/01) and of the European Convention on Human
Rights (ECHR) and the derogation of the European Union from its fundamental principals, values
and objectives, as they are illustrated by the present status-quo in the Eurozone. The conclusive part
of this dissertation is engaged with suggestions for harmonized integration, promotion of
democratic principles and activities, coordination of economies in the Eurozone and safeguarding of
fundamental human rights.
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