EU Commission: new law could include bail-in of uninsured deposits
This is what they were after all the time, not the Cyprus money. Come on : Barclays and RBS CEOs are getting more in bonuses yearly than the money they were asking from Cyprus. It was used as an excuse to make a new law - nothing else
The deal with Cyprus is not over yet and they have no idea how it will reflect to Cyprus and they are already making a law? Not even funny
I guess it is funny to them : shoulder taping and campaign drinking for pulling one more stunt on us
eurofreek:
The deal with Cyprus is not over yet and they have no idea how it will reflect to Cyprus and they are already making a law? Not even funny
The deal with Cyprus is not over yet and they have no idea how it will reflect to Cyprus and they are already making a law? Not even funny
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It might be possible for large uninsured depositors to be "bailed-in" as part of the future resolution of a bank under a new draft EU law, the European Commission said on Tuesday, but savers with less than 100,000 euros at a bank would not be hit.
"At no point is it possible to bail in depositors under 100,000 euros, either now nor in the future," said a spokeswoman for Michel Barnier, the European Commissioner in charge of financial regulation.
"In the Commission's proposal, which is under discussion, it is not excluded that deposits over 100,000 euros could be instruments eligible for bail-in," spokeswoman Chantal Hughes told a regular briefing. "It is a possibility."
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