3 ms·
Can you please provide examples of developed countries speaking "in the last few years of forcing depositors to take losses in the event of bank failures" and w
by aj12345 13y ago
Can you please provide examples of developed countries speaking "in the last few years of forcing depositors to take losses in the event of bank failures" and which ones "have actually done it"? Cyprus is the only example that I can think of that discussed it and I can't think of any that have actually done it.
- thyrsus 13y agoAccording to this http://wealthcycles.com/features/cypress-bailout-deal-is-pilot-program-for-bank-deposit-confiscation http://wealthcycles.com/features/cypress-bailout-deal-is-pil... deposits under 100,000 euros were exempt, with a 40% forfeiture of amounts over 100,000. There were other proposals, but that appears to have been the actual outcome.
- aj12345 13y agoSo in other words, insured deposits were paid out fully and uninsured deposits got a big haircut. Sounds like the correct outcome to me.
- wintersFright 13y agoEurope has repeatedly stated cyprus is a template for future bailouts.