Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief

 

Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced.

 

FULL STORY at

http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html

 

Europe: 100,000 Euros Savings Now Considered Wealthy

 

The deal to “save” Cyprus which, according to Cypriot President Anastasiades was struck “in the the best interests of the EU,” will inflict “huge losses on wealthy savers” of up to 40% of their bank deposits.

While savings accounts containing under €100,000 will remain untouched, those who have scrimped and saved all their lives to amass a relatively modest sum of anything over that amount face a “haircut” amounting to almost half of their wealth.

 

In addition, the outcome in Cyprus now communicates a clear message to millions of middle class people throughout Europe who have more than €100,000 euros in savings – your money could be swiped next.

 

FULL STORY at

http://www.infowars.com/europe-e100000-savings-now-considered-wealthy/