I didn't think they needed legislation? Depositors are simply unsecured creditors. You might be better off WITH legislation, which would ensure an orderly wiping out of 50% of your savings, rather than a disorderly collapse which would result in nothing being rescued.
NZ have had this in place for years. It is designed to ensure that the banking system will keep running without a hitch in the event of a Cyprus type collapse.
But best thing is not to worry about it at all. Just don't keep any money in the bank, then they can't steal it off you!
- Forums
- General
- govt trying to push through cyprus legislat..
govt trying to push through cyprus legislat.., page-3
-
- There are more pages in this discussion • 25 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online