Told you.....it's bail in's!!
http://www.telegraph.co.uk/finance/financialcrisis/10055202/EU-bank-proposals-risk-domino-sequence-of-failures.html
"In such circumstances, Britain wants the Bank of England to have the power to consider imposing losses on depositors, above the secured level of €100,000 (£85,000) as well as bondholders, to preserve financial stability.
“If we want to make sure that the bail-in tools can be used in real life, when things often go wrong over a weekend"
$1,000,000 in your account on friday....get bailed
in over the weekend....wake up monday Cyprused.
"The commission argues that “depositor preference” is already the rule in more than half of G20 countries, including the US"
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