ZenOps
01-07-2016, 09:36 AM
http://www.bloombergview.com/articles/2016-01-05/portugal-s-bank-bail-in-maneuver-sets-a-worrying-precedent
What happened? Someone changed the law, everyone else panicked (and for good reason)
Credit default swaps (insurance) will probably not kick in, because its the bank that controls the swaps. If they don't have the money to pay you insurance, you simply don't get any.
Deposits in Portugese banks may be confiscateable in a year.
What happened? Someone changed the law, everyone else panicked (and for good reason)
Credit default swaps (insurance) will probably not kick in, because its the bank that controls the swaps. If they don't have the money to pay you insurance, you simply don't get any.
Deposits in Portugese banks may be confiscateable in a year.