Banking Crisis in Europe – Austria orders BAIL-IN, America Next?

88f8f2b43d0833f0d7a890636dcf72fe_XLEconomic Terrorism has begun: “Banking Crisis Explodes in Europe on a Sunday Afternoon: Austria Orders First-Ever Bank “Bail-in”; Takes Depositors Money for Failed Bank. Europe and US Next! Entering into 2016, all members of the European Union (EU) were required by law to have bail-in legislation on their books in preparation for the next potential crisis that in previous times would have resulted in a taxpayer funded bailout. This was accomplished both by individual countries, and at the central bank level, and is regulated under the auspices of the European recovery and resolution framework for banks. And on April 10, it appears that these new rules have come not a moment too soon as Austria is to become the first European state to implement a bail-in as it induces the new policy on the failed Hypo Alpe Adria (bank), which is known today as the Heta Asset Resolution AG when it was nationalized by the Austrian government six years ago.Initially, a haircut of 54% will be implemented against senior creditors that could take upwards of six years to finalize the process and payouts to the debt holders. Read Article

ALSO READ Banking Crisis EXPLODES in Europe on a Sunday Afternoon: AUSTRIA ORDERS FIRST-EVER BANK “BAIL-IN”; TAKES DEPOSITORS MONEY FOR FAILED BANK

In a move which could trigger a collapse of European banks, Austria “Bailed-in” a failed bank; seizing depositor money to pay bank debts, leaving citizens broke. This could be the actual start of a complete systemic banking collapse in Europe as panicked citizens, seeing their fellow depositors wiped out in one fell swoop, start pulling their money out of the banking system. This has “DISASTER” written all over it. Read Article



Categories: bail in, Banks-Bankers, End Time Signs, EU - Euro Eurozone, Europe, Global Economy - Markets - Finance, Uncategorized

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