Monday, December 14, 2015

Bail-In of EURO Banks Continues

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Watch the presses roll as Europe scrambles to fix its banks
(To read the full article you will have to subscribe to the Financial Times)

The story is about the suicide of an Italian pensioner last week after he realised that he had been “bailed-in” during a bank resolution procedure .

This hard working pensioner saved his money for retirement and bought a bank certificate which is first on the list of unsecured credit. The bank declared a "bail-in" and confiscated his funds.   Read more...