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Tag: the eurozone has effectively defaulted on a deposi
Europe is risking a bank run
With the agreement on a depositor haircut for Cyprus– in all but name – the eurozone has effectively defaulted on a deposit insurance guarantee for bank deposits. That guarantee was given in 2008 after the collapse of Lehman Brothers. It consisted of a series of nationally co-ordinated guarantees. They wanted to make the political point that all savings are safe....
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RN
on
08 May, 2022 23:44:14
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