Remember the bail-in that happened in Cyprus? Well, now it's happening again in Spain. Though it is not a depositors bail-in (those who hold TIER 1 (AT1) and TIER 2(T2) will be the one to be wiped out) - still this is frightening and could trigger bank runs in Spain and could get very ugly pretty soon.
If i'd be living in Spain, i would get my money out of the bank while i still can.
Here's a link to the article for mor information:
https://seekingalpha.com/article/4079869-banco-popular-espanol-europes-first-bail-in-test
Thanks for the post. Yes I remember Cyprus and depositors lost what 80% of their savings! It is happening in Spain now, rest of Europe next and soon after North America. Protect yourselves. Ultimately, at some point national debts (including the US) will renounced and whose savings are the taking? Yours or the bankers?
up voted and followed, please do the same!
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So strange that this news was met with "relief". One zombie bank acquiring another zombie bank is a good sign?
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They are just kicking the can further...until the mess will be so big that a reset will be needed.
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Welcome to Steemit :)
I follow u, follow me back if u want lot of fun and amazing picture every day.
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