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EU finance ministers approve Cyprus bailout deal, funded by bank assets seizure
foxnews ^
| March 25, 2013
| FoxNews.com
Posted on 03/25/2013 9:06:05 AM PDT by redreno
click here to read article
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1
posted on
03/25/2013 9:06:05 AM PDT
by
redreno
To: redreno
2
posted on
03/25/2013 9:08:06 AM PDT
by
Olog-hai
To: redreno
40 percent of the money you thought was safely deposited in the bank was seized, without your permission, to bail out a near-bankrupt governmentI'm pretty sure it was seized to bail out the bankrupt banks.
3
posted on
03/25/2013 9:11:44 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: redreno
So... remind me again, why do we put money in banks?
4
posted on
03/25/2013 9:12:33 AM PDT
by
Oberon
(Big Brutha Be Watchin'.)
To: Toddsterpatriot
Once this happens globally, the global economy will collapse. Depositors will pull their money and credit will dry up. This will be a repeat of 29 but violent.
To: redreno
Methinks that this is the first crack in the dam. I truly believe that we will trace the impending economic collapse to this moment in history.
6
posted on
03/25/2013 9:19:19 AM PDT
by
VRW Conspirator
(Cyprus - the beginning)
To: DownInFlames
Why would it happen globally?
7
posted on
03/25/2013 9:20:00 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
Why did the bondholders lose nothing?
8
posted on
03/25/2013 9:25:58 AM PDT
by
EEGator
To: redreno
Seems as though Wall Street initially liked this a little then maybe reality began to creep into their minds as it’s now down.
9
posted on
03/25/2013 9:27:39 AM PDT
by
John W
(Viva Cristo Rey!)
To: Toddsterpatriot
Isn’t that what bankruptcy courts are for?
10
posted on
03/25/2013 9:31:04 AM PDT
by
Lurker
(Violence is rarely the answer. But when it is it is the only answer.)
To: EEGator
Because most of the bondholders are German banks.
11
posted on
03/25/2013 9:31:47 AM PDT
by
expat2
To: EEGator
Why did the bondholders lose nothing? It appears they did.
WSJ
12
posted on
03/25/2013 9:34:24 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: expat2
13
posted on
03/25/2013 9:34:32 AM PDT
by
EEGator
To: Lurker
I’m not familiar with bankruptcy courts in Cyprus.
14
posted on
03/25/2013 9:35:21 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
It won’t let me read the article. I believe that it refers to the smaller of the two banks. I believe the main bank’s bondholders lost nothing. Correct me if I’m wrong.
15
posted on
03/25/2013 9:36:01 AM PDT
by
EEGator
To: EEGator
To the victor go the spoils.
You wouldn't want to hurt Angela's shot at re-election, would you?
16
posted on
03/25/2013 9:40:48 AM PDT
by
expat2
To: expat2
Of course not. That would be blasphemy.
I don’t understand why rich people in every EU country wouldn’t pull their money out now though.
17
posted on
03/25/2013 9:45:56 AM PDT
by
EEGator
To: EEGator
Because there are very few countries left asking for a bailout, especially after this. And this is probably exactly why the EU did this...to indicate that free bailouts were a thing of the past.
To: EEGator
My understanding is that the deposits are much, much more than the bond issues.
19
posted on
03/25/2013 9:58:28 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: what's up
I thought Spain and Italy were still in deep S**t?
20
posted on
03/25/2013 9:58:44 AM PDT
by
EEGator
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