No. of Recommendations: 2
Unfortunately, the deal concentrates losses on particular discrete individuals, some of whom will lose virtually everything they have. Not all these individuals are Russians, either.


The obvious question is why would anyone keep so much money in a single bank? Really the single mom or European Expats you mention surely could have diversified savings around couldn't they?

OK that may be a bit of closing the barn door thinking but one would think that it would occur to people with over 100,000 Euros that they would have more than one bank to choose from.

Cutting the size of the global banking industry may be rough on employees but clearly needs to be done.

Any <thinks banks are supposed to be the grease not the locomotive> mouse
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