A Closer Look At Bank Bail-Ins And The Black Hole Of Our System
Gold Silver Worlds
November 5, 2013
The bank bail-in rumble is growing louder. After the events in Cyprus, a small country and potentially meaningless in the eyes of most people, it seems that bail-in idea has spread like a virus across the Western world.
Only in the last week, we saw the following developments:
Slovenian parliament has approved bank bail-in rules. (source)
The leader of the Eurogroup Working Group (Thomas Wieser) revealed that the eurozone should introduce bank bail-in rules from 2016, as reported by the German Der Spiegel. (source)
UK based Co-operative Bank announced a bondholder bail-in rescue plan. (source)
All these events come right after the IMF super tax proposal of 10% on savings accounts of households with a positive net worth in Europe (reported on this site) earlier this month.