Commodity Trade Mantra

Posts Tagged ‘Deposit Haircuts’

Greece Just Lost Control Of Its Banks - Why Deposit Haircuts Are Imminent

One of the preconditions imposed on Greece for a deal is that it signs into law European rules that would put eurozone authorities at ECB & Brussels in charge of identifying & closing or breaking up sick banks. There will be absolutely nothing Greece can do to avoid it as on Wednesday, the government will vote to hand over its sovereignty to Europe for absolutely nothing in return.

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