06/13/2015 - The European Union is Rushing Legislation on Bank Bailins
Michael Snyder highlights what is happening in the European Union – they are rushing legislation (financial repression) for all European Union countries & threatening that if a country does not enact “bailin” legislation within the next 2 months, it will face legal action .. what is a bailin? – it’s when creditors like bank depositors or shareholders lose something to help bail out a bank, instead of the government bailing out the bank .. why 2 months? – because you have Greece ready to default & it could send contagion effects all across Europe .. “Greece will only be just the beginning. In the end, I expect major banks to fail all over Europe as we head into the greatest financial crisis that Europe has ever seen. Bank account holders all over the continent could end up having to take ‘haircuts’, and that would just make the coming deflationary cycle in Europe a lot worse. And I actually expect events in Europe to start accelerating greatly by the end of this calendar year. Apparently the top dogs in the European Union are also concerned about the immediate future, because they are rushing to get ‘bail-in’ legislation passed in every nation in the EU by the end of the summer.”
