So - the EU protects deposits up to 100,000 euro just like here in the US.
This deal will confiscate 6.75 % of that for your low an middle class people. So if I have only 100000 Euro - I will have 6750 confiscated. It is safe to assume this is "middle class" level savings. If the deal doesn't go through - my money is insured for 100,000 and I get 100,000. This applies to everyone right down to the old lady who has 1000 eruo.
Now - if I have 1mil euros lets do the math.
I will lose 9.9% or about 100,000 if the deal goes through.
If the deal doesn't go through - I lose 900,000.00 - because I am only insured for 100,000.00
Does nobody see how this little ploy is protecting the rich???????
Let the bank collapse. It is better for the poor.
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