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Response to Tansy_Gold (Original post)

Mon Mar 25, 2013, 11:42 AM

40. Banks In Europe May Now Seize Deposits To Cover Their Gambling Losses

3/25/13 Banks In Europe May Now Seize Deposits To Cover Their Gambling Losses
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Although deposits under 100,000 euros will be spared, deposits over 100,000 euros will be seized and subjected to an as-yet undetermined haircut--with the confiscated money going to bail out the gambling losses of the aforementioned reckless idiots who run some of Cyprus's banks.

"The Europeans are not putting any money into the bank recapitalization, which means, that as far as I can tell, there is nothing in this deal that could not have been done by the Cypriots last year or the year before," says Buchheit.

This seizure, needless to say, will dampen the enthusiasm of rich depositors for keeping money in banks that get themselves into financial trouble. And because many, many banks in Europe have gotten themselves into financial trouble, this will create a general state of unease among rich depositors throughout the Eurozone.

more...

http://finance.yahoo.com/blogs/daily-ticker/banks-europe-may-now-seize-deposits-cover-gambling-134036516.html



Are there any reported bank runs in other EU countries?



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LineReply Banks In Europe May Now Seize Deposits To Cover Their Gambling Losses
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