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Cyprus Bailout New Tool in Eurozone
This is anything but fear mongering.
That's not some anonymous poster on a blog saying, "Will this happen to other Eurozone countries?"
This is the chairman of the eurozone saying, "We'll do this again if we need to."
Now, if you're in a Eurozone country and have large savings, what would you do? I'd be going to the bank THIS MORNING, and moving my money to some non-Euro venue. Even my mattress has better returns than -40%.
This is anything but fear mongering.
The euro fell on global markets after Jeroen Dijsselbloem, the Dutch chairman of the eurozone, announced that the heavy losses inflicted on depositors in Cyprus would be the template for future banking crises across Europe.
This is the chairman of the eurozone saying, "We'll do this again if we need to."
Now, if you're in a Eurozone country and have large savings, what would you do? I'd be going to the bank THIS MORNING, and moving my money to some non-Euro venue. Even my mattress has better returns than -40%.
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