Spiegel Suspects Deposits Haircut in Greece

trapezes_473_355After the suspension of  a planned merger of the National Bank of Greece and Eurobank because of capitalization problems and opposition from Greece’s international lenders, the German magazine Spiegel said it believes the Greek government is planning to confiscate some of the deposits in banks as happened on Cyprus.

’The magazine said the decision raised suspicion that in an economic emergency that the government would go after bank accounts. Tax revenues are far off expectations despite big tax hikes as part of austerity measures that include pay cuts and slashed pensions.

The Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) said it didn’t want the merger because it would create the largest lender in the country, with some 170 billion euros ($222.12 billion,) and be too big if there were solvency problems, as happened on Cyprus.

Greek Finance Minister Yannis Stournaras and a spokesman for Prime Minister Antonis Samaras have assured that despite the suspension of the merger bank accounts are safe and won’t be touched. There was no response on the Spiegel report.


    What have I said in here a million times? Do NOT keep more the 10,000 Euro’s in the bank or you will risk losing it. Period. End of story. Less if you can. Keep at least 2-3,000 in a safe place….NOT IN A BANK.

    If you lose money, it’s YOUR fault.

  2. NO its the banksters FAULT. Thanks for letting me remind you who is the victim and what is the criminal…. I didn’t trust the banks and had my purse snatched,,,,and was informed that I was the criminal! duh. the THIEVES are the criminals.