The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Eu-member or in this case EEA member and your banks can operate everywhere. meanwhile they are still regulated and deposit-insured by their national states.
As Iceland demonstrates, that is a bad rule.
and up to a point Ireland shows, is a problem.
No depositors have so far been in danger in Ireland - only bondholders who should lose their shirts.
And once you have opened for savers out of other EU-countries, they are as senior as your domestic savers and you have to treat both the same way.
No, they really shouldn't.
The British depositors can still petition their own government for restitution. Since the British government is more likely to cover British depositors than Icelandic depositors, the Icelandic government is justified in giving domestic depositors preferential treatment.
Management and bondholders should, of course, lose their shirts no matter their nationality.
Austerity can only be implemented in the shadow of a concentration camp.
by afew - Oct 31 19 comments
by gmoke - Oct 28 10 comments
by ManfromMiddletown - Oct 20 61 comments
by Democrats Ramshield - Oct 31 1 comment
by gmoke - Oct 7 3 comments
by afew - Oct 3119 comments
by Democrats Ramshield - Oct 311 comment
by gmoke - Oct 2810 comments
by ManfromMiddletown - Oct 2061 comments
by gmoke - Oct 73 comments
by ARGeezer - Oct 760 comments
by DoDo - Oct 310 comments
by Cyrille - Sep 24136 comments