Bail-ins r Us!


Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?

by Michael Snyder

… By this time, everyone in the EU was already supposed to have enacted “bail-in” legislation, but some countries in Europe have been dragging their feet. … (But now) the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action.  The countries that are being threatened in this manner (11 in total) include Italy and France.  If you fast forward two months from this moment, that puts us in early August. …

So precisely what is a “bail-in”?  Essentially, what happens is that wealth is transferred from the “stakeholders” in the bank to the bank itself in order to keep it solvent.  That means that creditors and shareholders could potentially lose everything if a major bank in Europe fails.  And if their “contributions” are not enough to save the bank, those holding private bank accounts will have to take “haircuts” just like we saw in Cyprus.  In fact, the travesty that we witnessed in Cyprus is being used as a “template” for much of the new legislation that is being enacted all over Europe. …

Greece will only be just the beginning.  In the end, I expect major banks to fail all over Europe as we head into the greatest financial crisis that Europe has ever seen. … I actually expect events in Europe to start accelerating greatly by the end of this calendar year. …

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About icliks

Biding my time in central ms ... yours too, if ur reading this.
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