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Tag Archives: confiscation of deposits
After the initial proposal to confiscate 6.75% of all deposits up to EUR 100,000 and 9.9% of all deposits above EUR 100,000, the final plan will instead take as much as 100% of deposits (in excess of EUR 100,000) at … Continue reading
The EUR 10 billion bailout of tiny Cyprus should have been a global non-event. Instead, ineptitude on the part of the European Central Bank (ECB), the European Commission, the International Monetary Fund (IMF), and the Cyprus authorities has threatened the … Continue reading