Bank depositors could be stolen from again, similar to what happened in Cyprus says EU chief

(But don’t worry, Cyprus was an exceptional case.)

Time to spread those assets. If one has over EUR 100,000 in one bank, the funds above the 100K threshold are potentially subject to seizure in any future bailouts. It is on the record, and we have been warned.

(From CNBC)

“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.

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