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What to do? When will Weideman take your money as well?

Swiftly move your money to the best bank in the world, a bank which has never been in trouble even when crises have dragged down fellow banks. You'll also improve international financial stability, as the Swedish banks due to their large size and the huge Swedish wealth gaps traditionally suffer from a dearth of deposits. Call now!

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Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Sun Mar 17th, 2013 at 10:16:40 AM EST
I thought this is exactly why the EU harmonised deposit guarantees in October 2008?

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Sun Mar 17th, 2013 at 10:18:40 AM EST
[ Parent ]
You know, so did I. Seems the idiots in charge forgot that declaration. These people just can't be trusted. Confidence bye-bye...

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Sun Mar 17th, 2013 at 10:22:13 AM EST
[ Parent ]
That was in 2008, more than an election cycle ago...

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Sun Mar 17th, 2013 at 10:22:58 AM EST
[ Parent ]
Isn't this policy basically in conflict with that? Might someone take this to the the ECJ?
by Metatone (metatone [a|t] gmail (dot) com) on Sun Mar 17th, 2013 at 11:58:54 AM EST
[ Parent ]
Here are a couple of Brits suggesting it is actually illegal:

@SharonBowlesMEP

Uber cross over #Cyprus bail-in of guaranteed deposits. Anyone up for the ECJ on this. Breach surely of Deposit Guarantee legislation.
@CharlesCrawford
On what basis is the #Cyprus bank deposit manipulation and seizures NOT a catastrophic breach of the most basic human rights under #ECHR?
But who cares? The economic damage will be done well before the legal challenges are even lodged.

What possible redress is there here?

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Migeru (migeru at eurotrib dot com) on Sun Mar 17th, 2013 at 12:44:40 PM EST
[ Parent ]
Well, hard to argue with that.

I guess I hoped that if a number of challenges were brought forward quickly, it might force a rethink of the policy.

Because, as Starvid notes, this policy is really dangerous and likely to promote bank runs across the periphery...

by Metatone (metatone [a|t] gmail (dot) com) on Sun Mar 17th, 2013 at 12:56:19 PM EST
[ Parent ]
"Might someone take this to the the ECJ?"

I would. Arguing falsa demonstratio non nocet and that this is a tax in name only.

by IM on Sun Mar 17th, 2013 at 02:45:02 PM EST
[ Parent ]

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