asterisk2a + bail-in   29

Italy’s €360 billion referendum – POLITICO
Italy’s banking system is staggering under €360 billion in bad loans. Almost any outcome that destabilizes Italian politics would send tremors through the country’s rickety financial system. While the long-term consequences could be dramatic — in a worse case scenario perhaps leading to the collapse of the eurozone — the first victims could be efforts to rescue two of Italy’s largest lenders.
non-performing  NPL  bad  bank  Italy  Referendum  Renzi  contagion  European  Union  systemicrisk  sovereign  debt  crisis  GFC  economic  history  recession  recovery  Austerity  ECB  Banking  Supervision  MarioDraghi  Greece  Spain  Portugal  PIGS  UK  exposure  bailout  bail-in  bailin  recapitalization  recapitalisation 
november 2016 by asterisk2a
The Deutsche Bank crisis could take Angela Merkel down – and the Euro
Over the weekend, the German Chancellor Angela Merkel waded into the mess, briefing that there could be no government bail-out of the bank. [...] If it was in trouble, it was on its own. [... would be another example of socialism for the rich, and the poor must suffer waht they must - varoufakis ]

But hold on. Surely that is an extra-ordinary decision? If the German government does not stand behind the bank, then inevitably all its counter-parties – the other banks and institutions it deals with – are going to start feeling very nervous about trading with it.
Angela  Merkel  bailout  Deutsche  Bank  Italy  contagion  TBTF  systemic  risk  investment  banking  Germany  Bundesbank  ECB  AfD  CDU  CSU  SPD  far-right  right-wing  austerity  Commerzbank  bail-in  bailin 
september 2016 by asterisk2a
Deutsche Bank Loves Helicopter Money: Why "Big Inflation Is Coming... But Will First Require A Crisis"
[NEED FOR CHANGE OF WIND - deflationary pressures ] Europe is another story. Germany must let their southern neighbors cheat on deficits and bank recapitalizations. “Spanish election showed if you let them cheat and growth surprises positively then extremists don’t do so well. Europe can only survive as an inflation zone. Will it be formally tolerated? Probably not. Will governments cheat anyway with ECB support?” Probably.
Deutsche  Bank  Italy  PIGS  sovereign  debt  crisis  austerity  Germany  Fiscal  Pact  Schuldenbremse  ECB  MarioDraghi  BuBa  Jens  Weidmann  Wolfgang  Schäuble  Angela  Merkel  zombie  zombie  banks  Richard  Koo  Helicopter  Money  monetary  policy  monetary  stimulus  policy  monetary  theory  deflation  deflationary  Brexit  European  Bank  Supervision  BaFin  BOE  BOJ  Abenomics  right-wing  far  right  far-right  Front  National  AfD  UKIP  Centrist  recovery  income  distribution  income  inequality  Gini  coefficient  squeezed  middle  class  Precariat  working  poor  globalisation  globalization  Paul  Mason  crony  capitalism  capitalism  in  crisis  tax  evasion  tax  avoidance  poverty  poverty  trap  social  mobility  income  mobility  wage  stagnation  wage  growth  wage  pressure  income  growth  GFC  economic  history  liquidity  trap  balance  sheet  recession  debt  overhang  household  debt  consumer  debt  credit  card  credit  card  debt  western  world  secular  stagnation  non-performing  loan  bail-in  bailout  recapitalization  recapitalisation  UK  Japan 
july 2016 by asterisk2a
This Is What Janet Yellen Thinks Is The "Worst-Case Scenario" For The U.S. | Zero Hedge
So, unfortunately, a Japan-style deflation remains a relevant worst-case scenario for us going forward. //&! What if Fed (Yellen) doesn't support any more the equity market? Just financial stability, banks (bail-in). No more blowing up credit bubble further. - http://bit.ly/1Oqb822
Janet  Yellen  Japan  secular  stagnation  deflationary  deflation  debtoverhang  debt  servitude  consumer  debt  household  debt  credit  card  debt  squeezed  middle  class  working  poor  Precariat  precarious  work  Zero  Hour  Contract  part-time  disposable  income  discretionary  spending  economic  history  Abenomics  equity  bubble  bail-in  speculative  bubbles  distortion  ZIRP  NIRP  QE  credit  bubble 
january 2016 by asterisk2a
Italien: Bankensektor wieder tief in der Krise - SPIEGEL ONLINE
Zusammengefasst: Italiens Ministerpräsident Matteo Renzi hat zwar einige Reformen auf den Weg gebracht. Auch die Wirtschaft des Landes ist zuletzt etwas gewachsen. Doch wer genauer hinschaut, sieht: Der Eurostaat hat nach wie vor mit massiven Finanzproblemen zu kämpfen - und die Schulden des Landes steigen immer weiter.
Italy  sovereign  debt  crisis  recession  GFC  bank  crisis  banking  crisis  2016  recovery  liberal  economic  reform  bail-in  bank  bailout  banking  union  EuropeanSystemicRiskBoard  ECB  PIGS 
january 2016 by asterisk2a
The new European Union | Credit Writedowns
[ EU banking system was too big to bail in case Greece and else would default even in parts on some of its debt and or make no or delay repayment with interest in full ] In conclusion, the conditions asked of Greece are not likely to be met, because they cannot be met. Greece will be blamed for not living up to its commitments, as it has been this time around. Yet, somehow, the notion of asking for the impossible from a country that has no choice but to sign is fundamentally perverse. [...] The mistake was to break the no-bailout clause that was designed to make sure the Eurozone would not find itself in this position. For selfish reasons (i.e. preventing a bank crisis in Europe and the US), Greece was convinced to accept the first bailout in 2010.
Greece  bank  bailout  banking  crisis  bank  crisis  investment  banking  retail  banking  TBTF  too  big  to  jail  too  big  to  bail  European  Union  Positioning  ECB  Career  Politicians  lobbyist  lobby  Lobbying  crony  capitalism  corporate  scandal  austerity  accounting  scandal  bailout  bail-in  Cyprus  of  Cyprus  deposit  haircut  deposit  levy  fairness  Generationengerechtigkeit  Wall  Street  profit  maximisation  shareholder  value  economic  history  fiscal  policy  monetary  policy  Basel3  banking  fractional  reserve  banking  EuropeanSystemicRiskBoard  GFC  recovery  Debt  Super  Cycle  Privatisation  ideology  dogma  PIIGSFB  PIGS  PIIGS  France  Germany  Bundesbank  trichet  Jens  Weidmann  Angela  Merkel  Peer  Steinbrück  corruption  blackmail  josefackermann  ackermann  Deutsche  subsidies  subsidizing  Mark  Blyth  social  contract  social  tension  social  cohesion  constituency  Nationalizing  badbank  badbanks  restructuring  monetary 
october 2015 by asterisk2a
Nomi Prins-Federal Reserve Transition to Destruction - YouTube
via - http://schiffgold.com/interviews/former-wall-street-insider-some-form-of-bank-bail-ins-will-come-to-us-video/ ||&! QE and ZIRP bad policy, bank and market cuddeling. no mainstreet recovery! trickle-down failed. Private sector can not carry existing minimal momentum forward. policy has not helped people on the ground. // many bubbles created: junk bond/zombie corps, car loans, student loans, property, ... // transition to destruction, volatility is first sign. // market manipulation! // inflated financial system // rise in NPL! where how will they cover that? another bailout? or bail-in. taking depositors haircut. FDIC can't cover that all.
ZIRP  NIRP  book  QE  reflate  reflation  equity  bubble  credit  bubble  Taper  Richard  Koo  BRIC  China  2015  junk  bond  trickle-down  economics  Super  Rich  1%  property  bubble  household  debt  UK  USA  BOE  Fed  mandate  Fed  Janet  Yellen  Mark  Carney  MPC  monetary  policy  monetary  transmission  mechanism  excess  reserves  retail  banking  secular  stagnation  wage  stagnation  disposable  income  income  distribution  income  inequality  Gini  coefficient  inequality  squeezed  middle  class  job  creation  job  market  labour  market  Niedriglohnsektor  Service  Sector  Jobs  recovery  GFC  benbernanke  alangreenspan  dot.com  speculative  bubbles  bank  bailout  banking  crisis  leverage  margin  trading  Super  Cycle  debt  servitude  private  debt  debt  monetization  debt  monetisation  fiscal  policy  austerity  consumer  debt  credit  card  credit  card  debt  car  loan  debtoverhang  economic  history  zombie  banks  zombie  corporations  zombie  consumer  mainstreet.org  Wall  Street  profit  maximisation  shareholder  value  crony  capitalism  corporate  debt  bubbles  asset  bubble  correction  mortgage  market  libor  rigging  scandal  trust  Career  Politicians  neoliberalism  neoliberal  FX  reserves  hot-money  currency-war  currency  debasement  currency  war  balance  sheet  recession  Niall  Ferguson  financial  repression  distortion  Pr 
october 2015 by asterisk2a
What's Next For Portugal? | Zero Hedge
The Portuguese economy cannot afford further delays Under the optimistic scenario forecast by the EU/IMF/ECB Troika, Portuguese debt is still expected to peak at 124% of GDP in 2014. Any delays will likely see this rise quickly, especially with growth already underperforming. Portuguese ten year borrowing costs have already shot up a staggering 1.5% since Gaspar’s resignation, reaching close to 8%. This highlights the fragility of the economic situation. Only a month ago, there was widespread talk of Portugal returning to the markets ahead of schedule – now it is difficult to see how it will exit its bailout programme in spring 2014 without any further assistance (the ECB’s bond buying programme, the OMT, still remains the most likely candidate).
Portugal  debtoverhang  OMT  2013  PIGS  Europe  European  Commission  sovereign  debt  crisis  bail-in  austerity  Troika  PIIGS  greatdepression  ECB  policy  error  greatrecession  policy  folly  bailout 
july 2013 by asterisk2a
Kommentar zur Einigung über Bankenabwicklung - SPIEGEL ONLINE
Doch das Problem steckt im Wort "Regel". Finanzmärkte, Politiker und Bürger haben sich längst daran gewöhnt, dass die EU-Staaten ihre selbstgesetzten Regeln nur so lange beachten, solange sie ihnen in den Kram passen. Die Maastricht-Kriterien waren vergessen, sobald Deutschland mehr Miese machen wollte als erlaubt. Und das Verbot, innerhalb der Währungsunion für die Schulden anderer Staaten zu haften? War in dem Moment Geschichte, als man sich vor den Folgen einer griechischen Staatspleite fürchtete. Die Liste ließe sich fortsetzen. Auch der Test für die neuen Bankenregeln wird erst bestanden sein, wenn zum ersten Mal tatsächlich eine Großbank in einem EU-Kernland abgewickelt wird. Nicht auf Zypern, sondern in London, Paris oder Frankfurt. Gegen den gewaltigen Druck der Bankenlobby und trotz aller Risiken für die Konjunktur. Die bisherigen Erfahrungen deuten nicht darauf hin, dass dies jemals passieren wird.
bail-in  Lobbying  banking  union  banking  crisis  lobbyist  Lobby  too  big  to  jail  Europe  toobigtofail 
june 2013 by asterisk2a
Saxo Bank CEO On The 'Eurozone Minefield': "This Crisis Will Not Pass" | Zero Hedge
Cyprus was indeed a template for bail ins and that outright confiscatory wealth taxes, disguised as solidarity payments, could be used to raise funds. "The governments of Europe need money, and the private sector has it. It is as simple as that. Be very paranoid," he said, warning investors that the mattress may be a safer place to deposit money over the weekend than their bank accounts. "Frankly, it is a complete mess. And it is a mess that gets worse and worse every day," is how the outspoken truthiness begins, adding, "anyone with a rational view of the world now sees the currency collaboration as a historic failure that can lead to even further fatal consequences for Europe and the continent’s competitiveness vis-à-vis the rest of the world."
currency  union  2013  Politics  lostgeneration  economic  history  Europe  Saxo  Bank  unintended  consequences  Political  error  Lars  Seier  Christensen  Euro  Policy  bail-in  europeanunion  Troika  greatdepression  folly  Cyprus  NiallFerguson  greatrecession  lostdecade  folly 
may 2013 by asterisk2a
Krise in Slowenien: Angst vor der Pleite - YouTube
Lange Zeit galt Slowenien als der Musterschüler in Südosteuropa. Doch das ist Vergangenheit. Die Währungs- und Schuldenkrise erschüttert nun auch das Zwei-Millionen-Einwohnerland.
east-europe  divergence  Slovenia  trust  deposit  haircut  NPL  property  bubble  Europe  confidence  bail-in  trustagent  Troika  banking  crisis  ECB  Cyprus  deposit  levy  bank  crisis  bailout 
may 2013 by asterisk2a
The Chart Making The Fed Nervous | Zero Hedge
http://www.zerohedge.com/news/2013-04-19/fed-governor-stein-warns-when-tbtf-bank-fails-depositors-will-be-cyprused "all too clear that part of the Dodd-Frank resolution authority guidelines, a bailout is no longer an option." Cyprus was the first, and will not be the last incident of bail-in solution for TBTF >> this whole this is a replay of Japan 90s and 2000s
monetary  policy  deposit  haircut  Europe  reflation  zombie  banks  BOE  banking  crisis  deflation  BOJ  Cyprus  deposit  levy  policy  folly  QE  SIFI  PIGS  UK  Error  bail-in  trustagent  austerity  greatdepression  zombie  consumer  inflation  expectation  deleveraging  IMF  balance  sheet  recession  GFC  monetary  theory  output-gap  haircut  derivatives  liquidity-trap  Troika  ECB  Insured  Bank  Deposits  political  folly  crisis  greatrecession  lostdecade  debtoverhang  FDIC  LTRO  OMT  Fed  trust  economic  history  confidence  sovereign  debt  crisis  ZIRP  USA  PIIGS  toobigtofail  POMO  Japan 
april 2013 by asterisk2a
Carmen Reinhart: "No Doubt. Our Pensions Are Screwed." | Zero Hedge
Only when inflation picks up, which is ultimately going to happen, will it become obvious that central banks have become subservient to governments." [...] Nations "seldom just grow themselves out of debt," as so many believe is possible, "you need a combination of austerity, so that you don't add further to the pile of debt, and higher inflation, which is effectively a subtle form of taxation," with the consequence that people are going to lose their savings. Reinhart succinctly summarizes, "no doubt, our pensions are screwed." [...] http://www.spiegel.de/international/business/interview-with-harvard-economist-carmen-reinhart-on-financial-repression-a-893213.html / http://www.spiegel.de/international/europe/how-central-banks-are-threatening-the-savings-of-normal-germans-a-860021.html
monetization  unemployment  monetary  policy  deposit  haircut  modern  monetary  theory  transferring-wealth  reflation  academia  zombie  banks  New  Normal  BOE  carmenreinhart  banking  crisis  deflation  BOJ  deposit  levy  creditcrisis  QE  2013  moralhazard  debt  monetisation  debt  bubble  creditcrunch  bail-in  austerity  greatdepression  zombie  consumer  deleveraging  inflation  centralbanks  debt  monetization  balance  sheet  recession  GFC  debt  jubilee  haircut  unintended  consequences  Troika  negative  real  interest  rate  ECB  debt  restructuring  bank  crisis  Abenomics  greatrecession  debtoverhang  Fed  economic  history  financial  repression  sovereign  debt  crisis  ZIRP  bailout 
april 2013 by asterisk2a
BBC News - Cost of Cyprus bailout 'rises to 23bn euros'
The original cost of the bailout was put at 17.5bn euros. But the new total, disclosed in a document seen by news agencies, means Cyprus will have to find 13bn euros to secure 10bn euros from the European Union and the IMF. Previously it was thought that Cyprus would have to raise 7.5bn euros.
bail-in  austerity  Troika  ECB  Cyprus  European  Commission  IMF 
april 2013 by asterisk2a
Cyprus Suspends Probe Into Who Withdrew Money Early | Zero Hedge
In a day full of stunners, we next get news from Cyprus, where a few weeks after the start of the "investigation" into who pulled their cash out of the country's doomed banking system in advance of the confiscation news on March 16 (and where even the current president was implicated in transferring over €20 milion in family money to London) the parliamentary committee tasked with tracking down the leaks, has suspended its probe. >> + http://www.zerohedge.com/news/2013-04-10/here-we-go-cyprus-sell-%E2%82%AC400-million-gold-finance-part-its-bailout http://www.zerohedge.com/news/2013-04-10/europe-extends-confiscatory-non-template-template-interbank-deposits >> + in reality plans continue to push ahead to indeed 'legalize' bail-in template from Cyprus
Politics  deposit  haircut  capital  controls  Europe  haircut  accountability  European  Commission  transparency  Troika  banking  crisis  ECB  Cyprus  bankrun  deposit  levy  bank  crisis  trust  economic  history  PIGS  confidence  Laiki  sovereign  debt  crisis  trustagent  bail-in  offshore  banking  austerity  capital  flight  PIIGS  corruption  of  Cyprus  IMF 
april 2013 by asterisk2a
Interview with German Economist Peter Bofinger on Perils of Cyprus Bailout - SPIEGEL ONLINE
>> with the example of Cyprus - people having bank accounts @PIGS and or living there - will withdraw money, once the crisis intensifies again. History doesn't repeat, but it rhymes. Italy put a on-off bank levy of 0.6% in 1992 on bank accounts. They called it "solidarity levy." > http://www.lastampa.it/2013/03/19/economia/a-nicosia-l-incubo-atene-giu-le-mani-dai-soldi-oqtF8dECetVT8OjhWFX8UP/pagina.html > http://www.crisisrepublic.com/a-history-of-bank-levies-italys-1992-bank-job/ "the whole Euro periphery is scared to death, since the Cyprus levy crushed the taboo of hitting bank depositors with losses." [What next!?] > http://www.edmundconway.com/2013/03/the-tragedy-of-cyprus/ "The price is a deeply socially-damaging one." >> http://marginalrevolution.com/marginalrevolution/2013/03/a-short-history-of-bank-deposit-and-levies.html
deposit  haircut  trust  economic  history  Europe  haircut  confidence  unintended  consequences  sovereign  debt  crisis  bail-in  history  trustagent  PIIGS  banking  crisis  Cyprus  bankrun  deposit  levy  bank  crisis 
april 2013 by asterisk2a
The Next Domino: Australia Doubles Tax On Retirement Savings | Zero Hedge
How much do you trust your government? >> Portugal, Ireland, Hungary & Co. raiding savings of ordinary people. raiding long-term funds for short-term holes. Promises are there to be broken. Laws to be rewritten. >> BOJ putting a tax in form of currency debasement (forced inflation / debt monetization) on its savers and pensioners. >> the problem with current form of democracy is - the short-term thinking that went on for 70 years.
currency  debasement  Politics  Europe  transferring-wealth  pension  scheme  IRA  BOJ  political  folly  Cyprus  Australia  democracy  greatrecession  lostdecade  policy  folly  JGB  middleclass  2013  lostgeneration  short-term  thinking  trust  pension  fund  working  poor  confidence  wealth  management  Error  401k  bail-in  trustagent  austerity  middle  class  USA  PIIGS  greatdepression  pension 
april 2013 by asterisk2a
Texas Wants Its Gold Back - YouTube
Texas State, introduces legislation that State Gov can't seize its Gold. Also plans to relocate its Gold from NYFed to Texas. Germany already announces (via Bundesbank) that its Gold (held @ NY Fed) will be shipped to the Bundebank. All is the same tone of Cyprus bail-in.
bail-in  currency  debasement  economic  history  Cyprus  currency-war  Gold  Bundesbank 
april 2013 by asterisk2a
Steuerparadies: Zypern ist überall - YouTube
- Europe got half a dozen low tax countries, which people with money and corporations use. Europe is one big mess. Tax policy across Europe is one.
Politics  economic  history  Europe  Laiki  Bank  taxevasion  Policy  Error  bail-in  offshore  banking  Troika  banking  crisis  Cyprus  political  folly  Bank  of  Cyprus  crisis  folly 
april 2013 by asterisk2a
Folgen des Zehn-Milliarden-Euro-Kredits: Zyperns gefährlicher Sparkurs - SPIEGEL ONLINE
Zwangsabgabe auf Bankguthaben, Stellenstreichungen, Privatisierungen, Steuererhöhungen: Zypern muss für einen Zehn-Milliarden-Euro-Kredit ein hartes Sparpaket umsetzen. Experten befürchten, dass die Maßnahmen die Wirtschaft endgültig in den Abgrund treiben.
bail-in  austerity  Troika  Cyprus  bailout 
april 2013 by asterisk2a
Krise in Zypern: Das flüchtige Geld der Sparer - SPIEGEL ONLINE
Das System basiert auf dem Glauben an den Wert des Geldes Ein schmerzhafter Weckruf, der zeigt: Formal gesehen sind die Bankkunden, die ihr Geld auf einem Giro- oder Sparkonto horten, Gläubiger ihrer Bank. Wenn ein Finanzinstitut pleitegeht, ist somit mindestens ein Teil des Geldes weg - es sei denn, ein privates oder staatliches Sicherungssystem steht dafür ein. Das Vertrauen, dass diese Systeme im Zweifelsfall auch halten werden, hat in der vergangenen Woche einen Knacks bekommen.
fiatmoney  communication  fiat  currency  trust  Europe  confidence  unintended  consequences  Laiki  Bank  zombie  banks  sovereign  debt  crisis  wealth  management  bail-in  trustagent  Troika  fiat  money  banking  crisis  deleveraging  Cyprus  Bank  of  Cyprus  crisis  balance  sheet  recession 
march 2013 by asterisk2a
Eurogroup’s Dijsselbloem Says "Banks Should Save Themselves" | Zero Hedge
"all financial institutions, as well as investors, to think about the risks they are taking on because they will now have to realize that it may also hurt them," [...] While this is upsetting to markets - so used to the visible hand of central planning saving themfrom themselves - this is very positive step for 'real people' as taxpayers appear to be 'off the hook' and the responsible parties beginning to be punished. >> http://www.spiegel.de/wirtschaft/soziales/euro-gruppen-chef-sieht-zypern-als-wendepunkt-der-euro-rettung-a-890863.html
bail-in  banking  crisis  Cyprus  bank  crisis  Europe  haircut  zombie  banks  zombi  banks 
march 2013 by asterisk2a
Mainstream Media Says Cyprus Salvaged By EU Deal, I Say Cyprus Is Sacrificed By Said Deal - Thrown Into Depression | Zero Hedge
“Policy makers’ recent decisions raise the risk of deposit outflows, capital flight, increased bank and sovereign funding costs and broader financial-market dislocation throughout the euro area in the future,” Moody’s said. >> http://www.zerohedge.com/news/2013-03-25/merkel-very-happy-russian-pm-furious-stealing-what-already-been-stolen-continues >> http://www.zerohedge.com/news/2013-03-25/next-cyprus-depression :: Depression for Cyprus: Our Cypriot GDP forecast entails a drop of just over 20% in real GDP by 2017. This forecast had already factored in much what was agreed, but did not account for the additional uncertainty shock generated by the past week’s appalling political mess. > http://www.zerohedge.com/news/2013-03-25/meanwhile-gold-silver-fx-and-european-bond-markets > http://www.zerohedge.com/news/2013-03-25/what-black-swan-looks-real-media-time > http://www.zerohedge.com/news/2013-03-25/european-financials-biggest-1-week-plunge-8-months-russian-ruble-nears-2013-highs
Laiki  Wolfgang  Schäuble  Politics  unintended  consequences  Toika  Policy  Error  bail-in  ELA  blackswan  ECB  Cyprus  Bank  of  Cyprus  Russia  Germany  bailout  folly 
march 2013 by asterisk2a
Keep A Close Eye On This FX Pair | Zero Hedge
Wondering why the Euro is losing steam so quickly this morning after the Eurogroup 'saved' Cyprus? Perhaps this FX cross is the reason... >> unintended consequences :: Russian Oligarchs pulling money out of Europe.   Perhaps this is why Italian and Spanish financials and bonds are weaker... >> http://www.zerohedge.com/news/2013-03-25/european-markets-sliding-fast >> http://www.zerohedge.com/news/2013-03-25/word-out-place-sends-europe-tumbling "" accounts with more than 100,000 euros, face losses of 4.2 billion euros. "" And now, the scramble to pull uninsured deposits out of banks everywhere begins. "" !!!
Laiki  ESM  EFSF  trust  bank  restructuring  haircut  confidence  unintended  consequences  European  Commission  zombie  banks  trustagent  bail-in  Troika  ELA  ECB  restructuring  Cyprus  of  Cyprus  bank  crisis  toobigtofail  Russia  zombi  banks  bailout 
march 2013 by asterisk2a
Audioboo / What are the implications of the Cyprus deal?
http://www.zerohedge.com/news/2013-03-25/think-tank-cyprus-saved-what-cost Laiki bank will be fully resolved – it will be split into a good bank and bad bank. The good bank will merge with the Bank of Cyprus (which will also take on Laiki’s circa €8bn Emergency Liquidity Assistance – a last-resort funding system outside the usual ECB operations). The bad bank will be wound down over time with all uninsured depositors (over €100,000) taking significant losses (no percentage yet but some could lose all their money above the threshold). >> Germany has made it clear that it is no longer willing to foot the bill for extensive bailouts without the recipient country taking a share of the burden and making some radical changes.
angelamerkel  Wolfgang  Schäuble  Europe  unintended  consequences  taxevasion  European  Commission  Laiki  Bank  sovereign  debt  crisis  bail-in  offshore  banking  Troika  ELA  banking  crisis  ECB  Cyprus  crisis  Bank  of  Cyprus  Germany  democracy  bailout  IMF 
march 2013 by asterisk2a

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