Austria Just Announced A 54% Haircut Of Senior Creditors In First “Bail In” Under New European Rules…(He We Go!)

by Tyler Durden
ZeroHedge.com
04/10/2016

Following a decision by the Austrian Banking Regulator, the Finanzmarktaufsicht or Financial Market Authority, Austria officially became the first European country to use a new law under the framework imposed by Bank the European Recovery and Resolution Directive to share losses of a failed bank with senior creditors as it slashed the value of debt owed by Heta Asset Resolution AG.

The Rest…HERE

This entry was posted on Sunday, April 10th, 2016 at 1:15 pm and is filed under Conspiracy, Corruption, Economics, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.