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BREAKING: Big depositors to bailout the banks under new EU LAW!

 
The Bulgarian
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04/06/2013 08:47 AM
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BREAKING: Big depositors to bailout the banks under new EU LAW!
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]

Last Edited by The Bulgarian on 04/06/2013 09:20 AM
littlemiracles

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04/06/2013 08:51 AM
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Re: BREAKING: Big depositors to bailout the banks under new EU LAW!
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The Bulgarian  (OP)

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04/06/2013 09:16 AM
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Re: BREAKING: Big depositors to bailout the banks under new EU LAW!
We all knew Cyprus was just a test.
Anonymous Coward
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04/06/2013 09:25 AM
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Re: BREAKING: Big depositors to bailout the banks under new EU LAW!
Trickle down Socialism. The oligarchs are being subsidized by everyone else now including the rich who "aint in the club". It's the brave new paradigm of Keynesian economics: a bloodletting of wealth by the powermad.
grumpier

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04/06/2013 09:50 AM
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Re: BREAKING: Big depositors to bailout the banks under new EU LAW!
EU's Rehn: Big depositors could suffer in future bank bailouts under new law

 Quoting: The Bulgarian


All this financial hassle makes me sad and angry.

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The Bulgarian  (OP)

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04/06/2013 09:52 AM
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Re: BREAKING: Big depositors to bailout the banks under new EU LAW!
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The Bulgarian  (OP)

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04/06/2013 12:59 PM
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Re: BREAKING: Big depositors to bailout the banks under new EU LAW!
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