Comment: If the deposit insurance pays out and the bail out does not

(See in situ)


If the deposit insurance pays out and the bail out does not

Then banks will re-open and all insured deposits will be withdrawn which will collapse the bank. Uninsured deposits will likely be totally wiped out. This would mean the EU just took a large portion of ex-KGB Russian Oligarch money. About the dumbest and least safe things possible.

The Cyprus finance minister is now headed to Russia:

http://www.sbs.com.au/news/article/1748342/Cyprus-finance-mi...

Statements by the head of the Cyprus Parliament:
http://www.telegraph.co.uk/finance/debt-crisis-live/9939296/...