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overtheedge
Member since May 2012
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Euro Bond Crisis Returns As Germany Pushes Euro Sovereign Debt Bail-in Clause - Mark O'Byrne - gold.ie

Good and timely article, but ...

"It is unlikely that we will face a banking collapse in the near future as we hope in time that cooler heads will come to bare. "

Yes indeed, that sure sounds like a real winning strategy.
You warn the people to prepare for the worse and then paint over the warning with the above disclaimer.
Some of us consider it far wiser to be 6 months early than a day late.
The bail-in announcement will only come after the bank accounts are frozen.
Then the window of opportunity for withdrawing your assets will be bricked up.

Commented 2991 days ago

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Beginning of the headline :European Banks holding European sovereign debt may have to take haircuts and be part of bail in plans should that same debt default, according to a plan being pursued by German government advisers. In another attempt to shelter German tax payers from the largess and excess of fellow European neighbouring countries’ national banks, the move could trigger a run on billions of euro of sovereign debt of said banks. In an article penned by the Telegraph’s Ambrose-Evans Pritchard, one of the council’s... Read More

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