New G20 Rules: Cyprus-style Bail-ins to Take Deposits AND Pensions

WEB OF DEBT BLOG

On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking.

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About gerryhiles

OK "Know Thyself." Socrates. "To thine own self be true." Socrates. "The unexamined life is not worth living." Socrates. That about sums me up, but of course is an ongoing attempt which I do not expect to fully realize, even if maybe such as Socrates and Jung did in their last moments.
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