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roneik Sun 31-Mar-13 13:30:25

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Euro zone ?troika? officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland and that the result will be to deliver clear title to the banks of depositor funds.

roneik Sun 31-Mar-13 14:20:56

http://www.bankofengland.co.uk/publications/Documents/news/2012/nr156.pdf

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