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MidwestTransplant

(8,015 posts)

5. I was thinking the same thing.

Reply to Purveyor (Original post)

Sun Mar 17, 2013, 05:17 PM

Mar 2013

The citizens of the next country that gets in trouble and needs a bailout (Spain, Italy or Greece again), will have a run on the banks once there is speculation it is coming. In reality 10% was a small price to pay because if they had their Euro denominated deposits paid back in a new currency at 1 for 1, they would have been in far worse condition than being down 10% but how this will play out in the psyche of people is another matter.

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Highlight:

Paul Krugman: Cyprus Bailout Will Push Europeans To Stage A Run On Their Banks [View all] Purveyor Mar 2013 OP

I don't know what to think about this BootinUp Mar 2013 #1

It's possible magellan Mar 2013 #2

Anybody with a clue what the logic behind this nutty decision was? Benton D Struckcheon Mar 2013 #3

Start here... dkf Mar 2013 #6

Thanks! Benton D Struckcheon Mar 2013 #7

Just when you thought it was safer to wade into the water... dkf Mar 2013 #8

Ah, hell; "It's just business; nothing personal." Cerridwen Mar 2013 #4

Sarcasm noted. But there is an important lesson here. Businesses dont have morals and rhett o rick Mar 2013 #9

+1! snot Mar 2013 #10

Yes, a business is an inanimate facade, the actions done behind it are those of humans HereSince1628 Mar 2013 #11

Yes and they own Congress. nm rhett o rick Mar 2013 #12

I was thinking the same thing. MidwestTransplant Mar 2013 #5

It would make me want to leave just the minimum balance to keep the account open. hobbit709 Mar 2013 #13

Imagine the IMF telling a government to tax its citizens' savings malaise Mar 2013 #14