EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW RESOLUTION LAW – EU LAWMAKER
Here we go again
Per Reuters, the European Parliament has just officially announced what ECB head DieselBOOM
said did not say yesterday, which caused the market to roll over yesterday- that Cyprus is indeed a Eurozone wide template, and the Eurozone has full intentions of following the bail-in model throughout the rest of the PIIGS nations’ debt crises going forward!
EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW BANK RESOLUTION LAW – EU LAWMAKER – RTRS
Here We Go Again: EU Lawmaker To Push For Bail-In Resolution Law For Deposits Over €100K
Here we go again:
- EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW BANK RESOLUTION LAW – EU LAWMAKER – RTRS
Basically, this is DieselBOOM ver 2.0. How long until someone scrambles to announce that this, too, was taken out of context?
More as we see it but the EURUSD sure isn’t waiting. Instead, it is plunging.
The European Parliament will demand that big savers take losses if their banks run into trouble, a senior lawmaker told Reuters,
FTW: Senior German lawmaker now denies what was just said, saying Cyprus not template… Just ignore the law that is about to be written
Likelihood tough treatment of big depositors will be written into new EU law, making large savers losses a feature of future crises – RTRS
I think big money will fly away to America and China
Is This The Diabolical “Master Plan” Behind Crushing Europe’s Depositors
Last week, when we commented on the absolutely idiotic Eurogroup proposal (now voted down and replaced by an equally idiotic “bank resolution” proposal which will see uninsured deposits virtually wiped out) to tax uninsured and insured deposits, we jokingly suggested that this may be merely the latest ploy by the legacy status quo to achieve one simple thing: force depositors across the continent (and soon, world) to pull their money out of a malevolent, hostile banking system and push that money into stocks, or simply to spend it. This would help finally defeat the biggest bogeyman of the centrally-planned reflation attempt in the past 4 years – the absolutely dismal velocity of money which drops every time the G-7 central planners inject liquidity into stocks.
This could blow the whole deal apart! Cyprus needs even more bail-out money from ECB–
Russian Withdrawals Quantified As Cyprus Central Bank Set To Expand Emergency Credit By Up To €3 Billion
…the Cyprus Central Bank is about to demand even more cash from the ECB to plug the holes left from the stealthy Russian outflows.
CYPRUS CENTRAL BANK PLANS EXPANDING EMERGENCY CREDIT: WELT
CYPRUS PLANS EXPANDING EMERGENCY CREDIT BY EU2.5B-EU3B: WELT
DIE WELT CITES UNIDENTIFIED PERSONS FAMILIAR WITH THE MATTER
George Carlin warned about this happening in America.. Surely its only a matter of time.