Bank Run in Europe now or lose it all. They just put the handwriting on the wall for all to see!
Obama is salivating.
If people have enough money to deposit part of it in a bank, they don’t really need it. My neighborhood Wells Fargo Bank will heartily endorse that. We can fully fund our entitlements and create new ones by taking 40% of the rich bank depositor’s money.
And these idiots are going to be shocked when more institutions start failing due to the bank run they created...
These finance ministers are legends in their own minds. No amount of financial gimmickery can compensate for three generations of deficit spending, consuming more than is produced and non sustainable debt. This latest gimmick of confiscating private wealth is not exactly new. Wherever it has been done for economic or political reasons, the results have been catostrophic. Ask the Russians or Chinese. Capital flees, people become less productive and economies eventually contract and collapse. An orderly bankruptcy, political and economic reform is the only effective course for the West or it will collapse.
Only a Free Trader Communist Globalist thinks it’s OK for taxpayers to bail out banks when Free Trade organizations (which is what the EU is) order citizens to do so....because its Free Trade Communist policies failed
Americans actually dealt with such almost two decades ago when we bailed out Mexican financial institutions with $40-45 billion right after NAFTA passed. You can be sure a Cyprus style bailout will be tried here by the Free Trade Communists
so much for it being a “one off”
I am sure the Dems are taking copious notes
Socialism on the march
What you did last night is what I call theft.