Read up on the new 2016 EU bank
Bail Ins that have been implemented for the next round of financial problems.
Quote:
|
If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus bank bail-ins that we witnessed a few years ago. If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe. And with the entire global financial system teetering on the brink of chaos, that is not good news for those that have large amounts of money stashed in shaky European banks.
|
Source
Quote:
The European Union entered a brave new world of bank ?bail-ins? at the start of 2016. Europe has wasted so much taxpayers? money on bailing out bust banks in recent years that it is right to try to get investors to help foot the bills in future. However, the tough new regime carries big political risks.
The key new rule is that no bank can be bailed out with public money until creditors accounting for at least 8 percent of the lender?s liabilities have stumped up. So-called bail-ins typically mean wiping out creditors? investments, slashing their value or converting them into shares in the bank. Uninsured depositors could get caught along with professional investors.
|
Source
The last place you want to have money is in a bank
