Security a Sham

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Security a Sham

Post  therrawbuzzin on Mon Apr 01, 2013 6:28 pm

The fact that the EU/ECB, IMF, World Bank wanted to confiscate 6.75% of savings of people with less than €100 000 in Cyprus, as a condition of bail-out, shows that the supposed guarantee on small depositors' savings (£85 000 in the UK) is a myth, no matter what is said.

Further, since the govt has stated that some financial institutions at too big to fail, (tbtf), it also shows that a govt will do whatever it can to support these institutions, and that if it cannot, the government can't save you either.

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