[PapaBear3625]

This could be basically be a really bad things for banks and financial institutions in general. Some credit unions which were open on Saturday essentially had a run as people tried to withdraw their money so it would not be confiscated on the formal date of next Tuesday with Monday being some kind of holiday.

The big impact will be on businesses. They will be the ones most likely to have more than 100K on deposit. Regular people who have 100K are more likely to have it invested.

The net effect on businesses will be to leave much less money in the bank, and work off a line of credit so that their net balance stays close to zero or slightly negative.

I'm going to guess that the bond holders had more "pull" with the EU bureaucrats than common depositors did.

[expat2]

The bondholders were largely Germans, and Germany controls he Eurozone.