The EU new or forcing large deposits in bank bailouts

Barnier said, according to the draft of a new EU law, the future of large deposits without insurance coverage may be asked to participate in the rescue of the bank's internal (Michel Barnier), EU Commissioner responsible for financial regulation, which is the future of the EU to solve the bank problempart of the plan.

Reuters reported that Barnier also pointed out that deposits of less than 100,000 euros in savings will not be affected. € 100,000 insurance claims based on EU law, the European Union up to bank depositors. Therefore, the so-called "no insurance coverage for large deposits" means deposits more than 10 million euros over the part.

According to the agreement reached in Cyprus with the EU Troika on weekends, the country's second largest bank, the National Bank of the part of the more than 100,000 euros deposit will be forced to participate in the banking industry bailout, this part of the money of the depositors almost wiped out. In the market view, such a move is tantamount to "rob a bank to rescue the country's financial system.

Monday night, the President of the Eurogroup, the finance ministers of the Netherlands Dise Blom to Reuters and the Financial Times pointed out that Cyprus could become a template for other countries had to restructuring the banking sector, the necessary insurance coverage of deposits can be used "internal relief. His remark, the market began to highly worried that other countries may also be playing the idea of the deposit, the U.S. stock market on Monday morning, fell, Europe / U.S. dollar exchange rate fell to a level pending the resolution of the Cyprus crisis, the German government bonds prices hit an intraday high. Cyprus, the two stock markets tumbled as investors worried about the heavy debt problems in Spain, Italy may be "learning".

A few hours later, the Dise Blom's office issued a clarifying statement: Cyprus is a special case, and the unusual challenges facing the country needs to deal with the way we negotiated Sunday, macro-economic adjustment program for the amount of Cyprus tailor-made, do not use models or templates.