Eurozone Chief: Savings Accounts Will Be Raided to Save Euro in Future Crisis

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Jeroen Dijsselbloem, the Dutch chairman of the eurozone, announced today that savers would be raided in the future to save the Euro. The Telegraph reported: 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…. Read more »

Low-Income or Filthy Rich, Cyprus Residents to Have Bank Accounts Raided

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Patrick Pleul/dpa/picture-alliance/Newscom The Republic of Cyprus has agreed to a eurozone bailout that will raid the bank accounts of Cyprus residents. In July 2012, the Republic of Cyprus became the fifth eurozone member to request a bailout. Eight months later, Cyprus has agreed to a €10 billion ($ 13 billion) bailout package with its eurozone… Read more »