Who pays the bank bailout? (Arte Thema)

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Christophe
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Who pays the bank bailout? (Arte Thema)




by Christophe » 27/06/13, 12:43

WHEN EUROPE SAVES ITS BANKS, WHO PAYS?

50 billion euros in Greece, 70 billion in Ireland, 40 billion in Spain: within the euro zone, states were forced one after the other - for astronomical sums - to help the banks to compensate losses incurred as a result of bad loans. But who are the beneficiaries of such operations?
It is by asking this very simple question that Harald Schumann, economic essayist and brilliant journalist, crisscrosses Europe. And gets some startling answers to say the least. Because those who have been "saved" are not - as people tend to have us believe - in countries in distress, but above all in Germany and France. Indeed, a significant part of the released sums ends up in the creditors' coffers of these saved banks. As for the financiers who have made bad investments, they find themselves protected against any loss at the expense of the community. And this contrary to the rules of the market economy. Why ? Who collects the money?
(Germany, 2013, 58mn)
RBB Television

Date of first broadcast:
Mar., 25 June 2013, 23h48

Date (s) of rebroadcast:
Friday, 5 July 2013, 08h55
Themes: Geopolitics & History, Documentary, Society


To see another 5 days here: http://videos.arte.tv/fr/videos/quand-l ... 61076.html

Read also: https://www.econologie.com/forums/dette-publ ... t9654.html
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by Remundo » 27/06/13, 20:54

In the same genre bankster ...
Bankruptcies in Europe: agreement on loss sharing

Just hours before the opening of a new European Council in Brussels on Thursday evening, the finance ministers of the European Union agreed on the sharing of losses in the event of bank failures.

Bondholders, shareholders and depositors whose accounts are greater than 100.000 euros in order will be the categories of people approached by the countries of the European Union in the event that a bank is in difficulty.
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"These bank resolution rules are an essential pillar of the Banking Union," said Michael Noonan, Irish Minister for Finance, currently President-in-Office of Ecofin. This agreement marks an important step in our efforts to break the link between banks and sovereign debt ”.
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En indeed the money injected into troubled banks has so far come from taxpayers, increasing public deficits.
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"In the future, wealthy investors will be asked to foot the bill," says Fidel Helmer, analyst at Hauck und Haufhaeuser. it is certainly not very pleasant for the people concerned but it calms the markets when they know that behind, the States will no longer have to pay for the errors of their banks.
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The agreement concluded by the 27 also authorizes the euro zone states to use the MES, the European Stability Mechanism, to help banks in difficulty.
The global agreement which will come into force in 2018, breaks a taboo in Europe, even if the imposition of losses on large depositors was already tested last March as part of the international aid plan granted to Cyprus.

Source: Euronews June 27, 2013
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by Rabbit » 27/06/13, 23:42

The ship takes on water from all sides.
My bank announces that the interest on my savings account is 0%.

More serious, China which could have held the role of Bee Flanders capsizes
him too .
http://www.youtube.com/watch?v=bB6sIKbJ0Tw

The time seems to me to have taken the plunge and hoped to get out of it.

I think my best bank is my mattress.

I should maybe charge my wife with gold like in some
country to ensure a capital that will pay for our retirement. As much as gold
is in free fall.

:?
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