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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (154202)	3/25/2013 11:05:38 AM
From: Jack of All Trades	2 Recommendations Read Replies (1) \| Respond to of 224890

Idiots I tell ya, who is going to want to have money in European Banks? Watch them have to walk this statement back... Dijsselbloem says Cyprus bank restructuring plan a template for rest of euro By Adam Button \|\| March 25, 2013 at 14:39 GMT \|\| 3 comments \|\| Add comment Comments from the Eurogroup’s Dijsselbloem on Reuters: Eurozone countries with large banking sectors must look to restructure and reduce overall size If uninsured depositors need to be ‘bailed in’, they will be Aim is to shift risks away from the public sector If bail-in process works, direct ESM recapitalization may never have to happen. The first thing this means is that you should never, ever keep more than 100K in a savings account. Second, this means all European banks are now likely to have fewer deposits, there will be less money for lending and growth will suffer. The euro has fallen through 1.2900 as this kills any notion that Cyprus is a ‘unique case’ and that a deposit levy is a ‘one-time event’. Dijsselbloem is saying what happened in Cyprus is now the blueprint for dealing with a debt crisis. Share and Enjoy: