EU depositors, move your cash.

Stolen from another website but I think that it is worth looking at.

The Cyprus model for bail-ins is shortly becoming the norm in Europe and any unsecured deposits are free game for any bank bailout.

They are trying hard to get this approved before Italy comes knocking on the door in a few months, they do have the 3rd largest level

of debt in the world after the US and Japan and the news that they used the same structure as Greece to lower their apparent debt

levels when they joined the euro to meet the entry levels is now coming home to roost.

If you have any cash over the insured level in any Southern Bank that is not doing too rosy, time to move it the heck out of there.

http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/137627.pdf

The same thing happens in the UK but the mechanism is different. Here they just print lorryloads of money which devalues savings.

Security over greed, lower earnings but better life, respect to all and not the few.

I think eventually this will happen everywhere, printing sh!t loads of new money just buys time.

I think eventually this will happen everywhere, printing sh!t loads of new money just buys time.

And reduces the value of government debt.