|
REPLY TO THREAD
|
|
Subject
|
BREAKING: Big depositors to bailout the banks under new EU LAW!
|
|
User Name
|
|
|
|
|
|
|
| Font color:
Font:
|
|
|
|
|
|
Original Message
|
EU's Rehn: Big depositors could suffer in future bank bailouts under new law
Big bank depositors could take a hit under planned European Union law if a bank fails, the EU's economic affairs chief Olli Rehn said on Saturday, but noted that Cyprus's bailout model was exceptional.
"Cyprus was a special case ... but the upcoming directive assumes that investor and depositor liability will be carried out in case of a bank restructuring or a wind-down," Rehn, the European Economic and Monetary Affairs Commissioner, said in a TV interview with Finland's national broadcaster YLE.
"But there is a very clear hierarchy, at first the shareholders, then possibly the unprotected investments and deposits. However, the limit of 100,000 euros is sacred, deposits smaller than that are always safe."
[link to www.foxbusiness.com]
|
|
Pictures (click to insert)
|
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | | | Next Page >> |
|
