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IPFS News Link • Economy - International

Words Of Warning: Get Your Money Out Of European Banks

If you still have money in European banks, you need to get it out.  This is particularly true if you have money in southern European banks.  As I write this, the final details of the Cyprus bailout are being worked out, but one thing has become abundantly clear: at least some depositors are going to lose a substantial amount of money.  Personally, I never dreamed that they would go after private bank accounts in Europe, but now that this precedent has been set it should be apparent to everyone that no bank account will ever be considered 100% safe ever again.

1 Comments in Response to

Comment by Temper Bay
Entered on:

You might keep an eye out on American banks too......only fools say it can't happen here.....just as they said the Govt. couldn't/wouldn't confiscate gold back in the 30's.