quote:

ORIGINAL: Politesub53

More scaremongering without taking notice of the actual facts.

What is being decided on is what happens to stop a bank closing. The alternative is large depositors losing everything bar any insurance scheme held by the bank.

"A draft EU law that will form the basis of discussions recommends a pecking order in which first bank shareholders would take losses, then bondholders and finally depositors with more than 100,000 euros (85,090 pounds) in their account.2 From YNs first link.

His other link http://www.globalresearch.ca/it-can-happen-here-the-bank-confiscation-scheme-for-us-and-uk-depositors/5328954 is just a mixture of bullshit and speculation.

quote:

ORIGINAL: YN

We have already heard your Tory talking points.

Unfortunately reality and them do not coincide.

quote:

ORIGINAL: papassion

The effects of the Cyprus bailout will stretch far beyond the Mediterranean island. As Simon Heffer of the DAILY MAIL'S pointed out, the fact that the deal forced bank depositors to cough up funds "sends an ominous signal to other EU nations. Stratfor's founder George Friedman described what a truning point this is: "What is certain is that an EU country, facing a crisis in its fiiniancial system, is now weighing whether to pay for that crisis by seizing depositors' money.

quote:

"More scaremongering without taking notice of the actual facts."

quote:

ORIGINAL: YN

This is what you said -

quote:

"More scaremongering without taking notice of the actual facts."

Since it is international news, and is being discussed world-wide, it is hard for even a Tory parrot to deny.

quote:

ORIGINAL: Politesub53

quote:

ORIGINAL: YN

This is what you said -

quote:

"More scaremongering without taking notice of the actual facts."

Since it is international news, and is being discussed world-wide, it is hard for even a Tory parrot to deny.

It isnt news, like much of the medias output it is speculation. Your assertions though are just assertions.

Well done with the continued name calling though.

quote:

The EU's 27 finance ministers were set to gather for what is likely to be a lengthy emergency meeting in Brussels late Wednesday after failing to reach an agreement in 19 hours of talks last week.
Germany's finance chief Wolfgang Schaeuble told radio station Deutschlandfunk ahead of the talks that it was neither easy nor certain that an agreement could be reached, saying he hoped for "a result at a humanly bearable hour."
But EU Commissioner Michel Barnier, who is in charge of banking reform at the bloc's executive arm, sounded more upbeat, telling reporters in Brussels "an agreement is now within reach."
He acknowledged, however, that there were still arduous negotiations ahead until a deal can be struck. "I can't tell you whether that will be at midnight, at 2 am or at 3 am," he said.
The ministers' last-minute talks came only a day before a summit of the EU's 27 heads of state and government that is expected to take stock of the progress of the bloc's financial and economic policies.

quote:

A key stumbling block is who to hit hardest: Should it just be banks' creditors and shareholders, or should small companies and ordinary savers holding uninsured deposits worth more than 100,000 euros ($132,000) also be included?

quote:

ORIGINAL: Politesub53

You are just too blinkered to get it. Its an ongoing discussion that has lasted three years so far.

You also fail to provide an alternative. If the banks are lft to fail investors lose everything, some honesty would be nice but I`m not holding my breath.

quote:

ORIGINAL: YN

quote:

ORIGINAL: Politesub53

You are just too blinkered to get it. Its an ongoing discussion that has lasted three years so far.

You also fail to provide an alternative. If the banks are lft to fail investors lose everything, some honesty would be nice but I`m not holding my breath.

Nationalize the banks. Jail the fat Torys running them.


And the "discussion" described in the OP has been going on since last week.

Nice try.

quote:

YN Post #18 Link
It’s been pretty tough to follow where countries stand on the latest proposals for the EU’s Recovery and Resolution Directive, not least because the debate has lasted three years with people mostly talking past each other.

quote:

ORIGINAL: Phydeaux

Pretty much have to say that it really looks as if the EU zone will be going the route of cyprus. Britain has been loudly opposed, but is pretty much backed into a corner.

quote:

European leaders agreed overnight to establish the bail-in model of Cyprus for future collapses of EU banks.

According to Financial Times (FT), EU ministers of finance agreed to establish the bail-in model, as shareholders, creditors and depositors would be partially “bailed in” to contribute to the costs of saving future failed banks. Insured deposits under €100,000 would be excluded, as would liabilities to employees of collapsed institutions.

Moreover, EU Member States will be obliged to set up national resolution funds to reach, within 10 years, a target level of at least 0.8 per cent of covered deposits of all the credit institutions authorised in their country. According to FT, before those resolution funds can be tapped, a minimum bail-in from shareholders and creditors amounting to 8 per cent of total liabilities is required under the deal achieved in Ecofin. However, member states can agree to use the funds to protect certain creditors or to recapitalise banks with approval from Brussels, with intervention capped at 5 per cent of the bank's total liabilities.

quote:

ORIGINAL: YN

You did not know the first thing about this EU FM meeting last week until I posted it. From all appearances you don't know the first thing about your baking system either.

As for your fascist Labour party, they are as incompetent gang of reactionaries as a Troy government is from any appearances, your bankers doubtlessly have the entire lot as puppets much as they do your champion Cameron and his government.