There may be trouble ahead...

[Darwins Selection]

Draft law to bail-in large depositors approved

Europe has moved a step closer to bailing in large depositors in future bank rescues, as happened in Cyprus this year.

Last night, the European Parliament's economics committee approved draft legislation under which customers with more than €100,000 would be liable to fund a rescue package. Smaller savers, though, would still be protected.

This new bank recovery and resolution mechanism is meant to end the era of taxpayer-funded bank rescues. Bank of England Deputy Governor Paul Tucker called it a milestone towards a world where governments were no longer willing to rescue banks that are “too big to fail”.

Under the EU proposal, a bank would dip into large deposits of over €100,000 once it had exhausted other avenues such as shareholders and bondholders, Reuters explains.

There could still be a battle, though, over who stands first in line for losses.

Be warned!

Time to buy a new, bigger mattress methinks.

[Nick]

i READ THAT AS BUGGER

[apc2010]

Draft law to bail-in large depositors approved

Europe has moved a step closer to bailing in large depositors in future bank rescues, as happened in Cyprus this year.

Last night, the European Parliament's economics committee approved draft legislation under which customers with more than €100,000 would be liable to fund a rescue package. Smaller savers, though, would still be protected.

This new bank recovery and resolution mechanism is meant to end the era of taxpayer-funded bank rescues. Bank of England Deputy Governor Paul Tucker called it a milestone towards a world where governments were no longer willing to rescue banks that are “too big to fail”.

Under the EU proposal, a bank would dip into large deposits of over €100,000 once it had exhausted other avenues such as shareholders and bondholders, Reuters explains.

There could still be a battle, though, over who stands first in line for losses.

Be warned!

Time to buy a new, bigger mattress methinks.

The last one is covered in chocolate....

[Darwins Selection]

i READ THAT AS BUGGER

jUST BACK FROM URANUS?

[Baldy]

i READ THAT AS BUGGER

jUST BACK FROM URANUS?

 

[apc2010]

2 branches of GBs (food stuff) closing and the Welcome Inn .....

[Barman]

2 branches of GBs (food stuff) closing and the Welcome Inn .....

 

[Baldy]

2 branches of GBs (food stuff) closing and the Welcome Inn .....

Heard that a few weeks ago. That fat bastard will now have to go on a diet. 

[Barman]

2 branches of GBs (food stuff) closing and the Welcome Inn .....

Heard that a few weeks ago. That fat bastard will now have to go on a diet. 

 

[Marley's Ghost (Imbiber of Spirits)]

Draft law to bail-in large depositors approved

Europe has moved a step closer to bailing in large depositors in future bank rescues, as happened in Cyprus this year.

Last night, the European Parliament's economics committee approved draft legislation under which customers with more than €100,000 would be liable to fund a rescue package. Smaller savers, though, would still be protected.

This new bank recovery and resolution mechanism is meant to end the era of taxpayer-funded bank rescues. Bank of England Deputy Governor Paul Tucker called it a milestone towards a world where governments were no longer willing to rescue banks that are “too big to fail”.

Under the EU proposal, a bank would dip into large deposits of over €100,000 once it had exhausted other avenues such as shareholders and bondholders, Reuters explains.

There could still be a battle, though, over who stands first in line for losses.

Be warned!

*ahem*

Can I refer you back to what I offered on page 4 of this topic?

It was only ever a matter of time before they extended this "wizard wheeze" . . . .

[Barman]

The economy is in a shite state so what to do...?

Well, increase property taxes to make €75M... well, not make exactly is it...? Take €75M out of the economy that would have been spent in shops, bars, restaurants, etc....

And the latest brilliant idea to save the economy...?

Change the design of number plates... all new cars will have to have the new design and all motorbikes, scooters, quads, etc. will have to get the new plates before the end of 2013... Even mnore cash taken out of the economy....

I despair, I really do.... 

[apc2010]

Talk of closing the Polis horsepickle .........so if you have an accident Argaka way it will be over an hour to the nearest A&E.....

[Barman]

Talk of closing the Polis horsepickle .........so if you have an accident Argaka way it will be over an hour to the nearest A&E.....

 

[Miss Demeanour]

Talk of closing the Polis horsepickle .........so if you have an accident Argaka way it will be over an hour to the nearest A&E.....

Where is Nick staying ? 

[Barman]

Talk of closing the Polis horsepickle .........so if you have an accident Argaka way it will be over an hour to the nearest A&E.....

Where is Nick staying ? 

Very close to Pafos A&E...