RANsquawk EU Market Re-Cap - 20th March 2013

Comments

[diogeneslaertius]

FUCKIN SQUAWK IT UP BABY!

[RideTheWalrus]

WHOOOO!!!! FUCK YEAH!!!

but now, some news from the southern hemisphere - 

New Zealand considers Cyprus-style banking failure solution

New Zealand is facing a similar bank failure to Cyprus, is likely to adopt open bank resolution (OBR), which will see small depositors lose part their savings in favour of a big bank bailout, Green Party co-leader Russel Norman said. The country’s Finance Minister Bill English supports the open bank resolution. 

"Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand," said Norman, adding that the Reserve Bank is in the "final stages" of implementing an OBR system.

http://rt.com/business/new-zealand-cyprus-style-banking-failure-solution...

And in Australia....

Get your cash while you can! 

Increased government powers to seize money from inactive banks accounts will soon come into effect, after legislation was rushed through parliament last year.

From May 31, the federal government will have the power to transfer to its own coffers, all money from accounts that have not been used for the past three years.

Any bank account that holds more than $1 and has not had any deposits or withdrawals during this timeframe will be transferred to the Australian Securities and Investment Commission (ASIC).

Based on current data, the government will net around $109 million this year alone. Every year from now on, accounts that are deemed to be inactive will be released to ASIC.

Data from ASIC has shown that there are accounts with more than $300,000 in them waiting to be claimed 

http://www.bigpondmoney.com.au/inactive-bank-accounts-raided?cid=ZBP_FOT...