Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday, reports FT.
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.
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.
The banksters will do whatever they can get away with to ensure they are paid.
The Greek people should tell them to go to hell.
-RW
As ever, the most critical thing is that the people and organizations that caused the crisis do not suffer from it.
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