Security a Sham
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Security a Sham
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.
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.
therrawbuzzin- Posts : 75
Join date : 2013-03-02
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