Faul,
We suppose that you thought no one would read your link to dispute what you have said.
First, we want proof from a reputable site that these big depositors got to pull their money from Cyprus. We have heard reports that this was not so!
Second:
There are two places in this joint document--34 and 47--where depositors are mentioned. They only reaffirm what the Federal Deposit Insurance Corporation (FDIC) has guaranteed for years and nothing more in the United States. We do not know what the policy similar to the FDIC is in England.
This docoment is fairly reassuring and simply points out that equity holders and creditors are going to take a haircut in the event of an insolvency, which everybody already knew. It also points out that uninsured depositors could take a write down, which has always been the case in the United States. It also has a part that states that insured depositors will be reassured that their insured deposits will be protected.
With all due respect to you, you seem to be a scare artist who does not know how to read financial documents very well! There is little in this link that we have not known about for years here in the United States! And it is conforting to know that plans are being made both here in the U.S. and in England to deal with any further finacial collapses.
Joe
To say that "God exists" is the greatest understatement ever made across space and time.
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