Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Greek banks prepare plan to raid deposits to avert collapse
FT.com ^ | July 3, 2015 | Kerin Hope

Posted on 07/03/2015 5:53:34 PM PDT by House Atreides

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday.

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Extended News; Germany; Government; News/Current Events; United Kingdom
KEYWORDS: alexistsipras; bailin; bankruptcy; banks; cyprus; europeanunion; finance; france; germany; gold; greece; greecebailin; greececrisis; greekbanks; greekcrisis; nato; syriza; unitedkingdom; yanisvaroufakis
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-86 next last
To: VerySadAmerican

It’s still possible. I lean that way heavily.

However, it will be no fun ride for anyone, that’s for certain.

Yikes


21 posted on 07/03/2015 6:51:52 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 20 | View Replies]

To: VerySadAmerican
I was hoping to miss the tribulation. I’m starting to believe I won’t.

As I read the daily occurrences I catch myself wishing I was one generation older so I won't be here when it happens. I'm a sad American also.
22 posted on 07/03/2015 6:55:58 PM PDT by jy8z (When push comes disguised as nudge, I do not budge.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: SaveFerris
The question is, when does it happen here?

That is what the Dodd-Frank Act instituted. Bail-Ins, in the guise of consumer protection is another Orwellian act brought to America by the undocumented president.

Worse, under the other Orwellian program called the Affordable Care Act, gold purchases are being registered.
23 posted on 07/03/2015 6:57:14 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
[ Post Reply | Private Reply | To 3 | View Replies]

To: jy8z

I catch a lot of flak over the username. But it’s difficult to pay attention and not be very sad.


24 posted on 07/03/2015 6:57:41 PM PDT by VerySadAmerican (I'll vote for a democrat before I'll vote for a rino.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: SaveFerris

It is already happening here due to currency devaluation; we are earning less (in terms of what our wages or savings can buy). While prices go up (and the enemedia has a different explanation for each commodity that skirts the obvious truth), we don’t have to face the fact that the $1,000 in the bank now buys $700 worth of merchandise a couple of years ago.


25 posted on 07/03/2015 7:00:33 PM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
[ Post Reply | Private Reply | To 3 | View Replies]

To: PA Engineer

[gold purchases are being registered]

Uh oh.


26 posted on 07/03/2015 7:01:21 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 23 | View Replies]

To: VerySadAmerican

I am mostly sad when I look into the eyes of my beautiful grandchildren since I lived through America at its best. I’m not giving up but it’s not looking good for us right now.


27 posted on 07/03/2015 7:01:49 PM PDT by jy8z (When push comes disguised as nudge, I do not budge.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: kearnyirish2

I earn nothing. And pretty much next to nothing for a long time. If it wasn’t for family and then friends, I don’t know.

That’s why I know about the job situation first-hand. I’m sure there are many, even right here on FR that know how bad things are.

And especially since 2008, some portion of it is built on trillions of dollars of debt placed on the American people.


28 posted on 07/03/2015 7:04:16 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 25 | View Replies]

To: SaveFerris
Uh oh.

I'm still searching for the lake where all the Freepers fish.
29 posted on 07/03/2015 7:04:22 PM PDT by PA Engineer (Liberate America from the Occupation Media. #2ndAmendmentMatters)
[ Post Reply | Private Reply | To 26 | View Replies]

To: eyeamok
Soon, but we can’t tell you when, but first we have to crash the stock market, then we go after the bank accounts.

I can tell you when. September, 2015.

30 posted on 07/03/2015 7:06:05 PM PDT by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: PA Engineer

Interesting article. I suspect that there will be a lot of gold coins carried out of the country by tourists and many more privately sold at a discount.


31 posted on 07/03/2015 7:06:41 PM PDT by MSF BU (Support the troops: Join Them.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: House Atreides

If you like your money, you can keep your money.


32 posted on 07/03/2015 7:08:57 PM PDT by Cboldt
[ Post Reply | Private Reply | To 1 | View Replies]

To: SaveFerris

I live in NJ; it is absolutely horrible here. “For Sale” signs everywhere, companies leaving/laying off...There won’t be any recovery here for a very long time. They are trafficking Third Worlders here to keep the stores and schools open, but there is no money for any kind of maintenance of anything.

Our local flea market has people selling groceries (and just about everything else) next to a mall that was completed years ago but never opened...


33 posted on 07/03/2015 7:09:25 PM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
[ Post Reply | Private Reply | To 28 | View Replies]

To: SVTCobra03

Guess we’re gonna find out. September - October time frame is what concerns me.

Not that I’m relaxing any other months this year.


34 posted on 07/03/2015 7:10:21 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 30 | View Replies]

To: SaveFerris
When does it happen here?

Banks are already paying just over 0% interest. Can "negative interest" be far behind?

35 posted on 07/03/2015 7:10:44 PM PDT by grania
[ Post Reply | Private Reply | To 3 | View Replies]

To: kearnyirish2

I don’t think we’re gonna recover from this one. I wish I was wrong.

The numbers are truly staggering. Somewhere between $135 to $211 trillion. Beyond mind-boggling.


36 posted on 07/03/2015 7:11:40 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 33 | View Replies]

To: grania

That’s the Greece haircut. Or as it was proposed last year.


37 posted on 07/03/2015 7:12:13 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 35 | View Replies]

To: House Atreides

we’re next


38 posted on 07/03/2015 7:21:18 PM PDT by kvanbrunt2 (civil law: commanding what is right and prohibiting what is wrong Blackstone all iCommentaries I p44)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SaveFerris

I think its getting Biblical too.


39 posted on 07/03/2015 7:27:14 PM PDT by stillfree?
[ Post Reply | Private Reply | To 9 | View Replies]

To: stillfree?

Amen.

Happening faster than even I imagined possible.


40 posted on 07/03/2015 7:29:16 PM PDT by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
[ Post Reply | Private Reply | To 39 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-86 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson