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Tag: Bank Bailout


eflon (CC BY 2.0)

The Confiscation Scheme Planned for U.S. and U.K. Depositors

Confiscating customer deposits in Cyprus banks was not a one-off, desperate idea of a few eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the U.S. Federal Deposit Insurance Corporation and the Bank of England, dated Dec. 10, 2012, shows these plans have been long in the making.

Posted on Mar 28, 2013 READ MORE



loop_oh (CC BY-ND 2.0)

A Safe and a Shotgun or Publicly Owned Banks? The Battle of Cyprus

For now, the government of Cyprus has overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. But if technocrat bankers can push through their confiscation scheme, precedent will be established for doing it elsewhere when bank bailouts become prohibitive for governments.

Posted on Mar 22, 2013 READ MORE


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