Tag Archives: ECB

Deposits No Longer Safe in EU

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

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Cyprus Deposit Confiscation Destabilizes Banking System

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

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Vote of No Confidence for Draghi

After Mario Draghi’s impassioned guarantee to do “whatever it takes to save the euro,” equity markets around the globe initially rose in eager anticipation of the breathtaking new plan to rescue the troubled European sovereign debt markets. Unfortunately, today’s announcement … Continue reading

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