Greek Banks Considering 30 Percent Haircut On Deposits Over €8,000: FT

Euros - Photo by Julien Jorge

Now, with ATM liquidity expected to run out by Monday and with the country’s future in the Eurozone still undecided, it appears as though Alexis Tsipras’ promise that “deposits are safe” may be proven wrong.

According to FTGreek banks are considering a depositor bail-in that could see deposits above €8,000 haircut by “at least” 30%. 

Via FT:

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

A Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over €100,000.

It would be implemented as part of a recapitalisation of Greek banks that would be agreed with the country’s creditors — the European Commission, International Monetary Fund and European Central Bank.

(Read the rest of the story here…)

2 thoughts on “Greek Banks Considering 30 Percent Haircut On Deposits Over €8,000: FT”

  1. And especially people in Greece keep leaving their money in banks for what? I will be really shocked if some one puts their money right back in one of their banks after this haircut as they call it. It is just an illuminatti plan to take down the middle class and to put them into more slavery. Nothing less .

  2. The only thing I have against this article is the word “haircut”. Call it like it is. It is considering fraud and theft of accounts.
    But because it is a banker instead of a common thief they think they can get away with it with just cause for thinking so.
    I suggest that if it smells like a rose it is a rose, if it smells like a rotten fish, then it is a rotten fish.
    It is time to line the thieves up against a wall and do what is appropriate.
    The law of the world should be that governments are not allowed to have unbalanced books. That means any law that a government makes has to be with appropriate legislation to pay for it.
    Unbalanced books is the same as theft.
    For too long, we as people have allowed governments to operate in the red. Now it is coming back to haunt the Greek people. Possibly even the Italians, the Spanish, and the Portuguese. The USA is also guilty of this transgression and we will end up paying for it soon.
    China also has unbalanced books. Russia is not far behind.
    Our own government operates with unbalanced books. That means that somewhere down the road they will look to people with money to steal from. The current method is to print money with nothing to back it up. That is normally called counterfeiting. But government calls it inflation. It is time to stop all of it and reorganize everything so the books balance just like a business would have to do. Anything that is not balanced books should be considered unconstitutional and illegal.

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