Bail in. Germany Casts the First Stone at Cyprus

The bail-in push from the Germans, Dutch and Finns was made during Jan. 29-30 technical meetings in Brussels, the same week that the Dutch government shielded senior bondholders of nationalized lender SNS Reaal NV. Dutch Finance Minister Jeroen Dijsselbloem said that step was needed to prevent a spike in funding costs for SNS Reaal and other lenders in the country.  Accelerating the loss-sharing rules would give the euro zone more tools to avoid taxpayer rescues like those provided to Greece, Ireland, Portugal and Spain and sought by Cyprus. It also could ease concerns about financial liability within the euro zone once the ECB takes over financial supervision within the 17-nation currency bloc. Read Money Laundering

AND-LET-HIM-WHO-IS-WITHOUT-SIN-CAST-THE-FIRST-STONE-1-C26360

 

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