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 →