Eurozone Chief: Personal Savings Accounts In Spain, Italy Will Be Raided To Save Euro - VIDEOSubmitted by emalvini on Tue, 03/26/2013 - 13:25
Eurozone Chief: Personal Savings Accounts In Spain, Italy Will Be Raided To Save Euro - VIDEO
By Bruno Waterfield | Brussels | 5:11PM GMT | 25 Mar 2013
The new policy will alarm hundreds of thousands of British expatriates who live and have transferred their savings, proceeds from house sales and other assets to eurozone bank accounts in countries such as France, Spain and Italy.
The euro fell on global markets after Jeroen Dijsselbloem, the Dutch chairman of the eurozone, told the FT and Reuters that the heavy losses inflicted on depositors in Cyprus would be the template for future banking crises across Europe.
"If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?'," he said.