{"id":8872,"date":"2015-06-06T07:29:18","date_gmt":"2015-06-06T12:29:18","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8872"},"modified":"2015-06-06T07:29:18","modified_gmt":"2015-06-06T12:29:18","slug":"why-is-the-eu-forcing-european-nations-to-adopt-bail-in-legislation-by-the-end-of-the-summer","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8872","title":{"rendered":"Why Is The EU Forcing European Nations To Adopt \u2018Bail-In\u2019 Legislation By The End Of The Summer?"},"content":{"rendered":"<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/why-is-the-eu-forcing-european-nations-to-adopt-bail-in-legislation-by-the-end-of-the-summer\" target=\"_blank\">Why Is The EU Forcing European Nations To Adopt \u2018Bail-In\u2019 Legislation By The End Of The Summer?<\/a><\/h3>\n<p><a href=\"http:\/\/www.prophecyclubresources.com\/MICHAEL-SNYDER-GIFT-OFFER\/productinfo\/MS-BUNDLE\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-8825\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2015\/06\/Question-Smiley-Public-Domain-460x460.jpg\" alt=\"Question Smiley - Public Domain\" width=\"460\" height=\"460\" \/><\/a>Are they expecting something to happen?\u00a0 As you will read about below, the European Union says that any nation within the EU that does not enact \u201cbail-in\u201d legislation within the next two months will face\u00a0<strong>legal action<\/strong>.\u00a0 The countries that are being threatened in this manner include Italy and France.\u00a0 If you fast forward two months from this moment, that puts us in early August.\u00a0 So clearly the European Union wants everything to be squared away by the end of the summer.\u00a0 Is there a reason for this?\u00a0 Are they anticipating that something really bad will happen in September or thereafter?\u00a0 Why such a rush?<\/p>\n<p>We all remember what happened when major banks were \u201cbailed out\u201d during the last financial crisis.\u00a0 A tremendous amount of taxpayer money was given to the big banks to help prop them up so they wouldn\u2019t fail.\u00a0 This greatly upset a lot of people.<\/p>\n<p>Well, when the next great financial crisis hits Europe, banks are not going to get \u201cbailed out\u201d this time.\u00a0 Instead, we are going to see \u201cbail-ins\u201d.<\/p>\n<p>So precisely what is a \u201cbail-in\u201d?\u00a0 Essentially, what happens is that wealth is transferred from the \u201cstakeholders\u201d in the bank to the bank itself in order to keep it solvent.\u00a0 That means that creditors and shareholders could potentially lose\u00a0<strong>everything<\/strong>\u00a0if a major bank in Europe fails.\u00a0 And if their \u201ccontributions\u201d are not enough to save the bank, those holding private bank accounts will have to take \u201chaircuts\u201d just like we saw in Cyprus.\u00a0 In fact, the travesty that we witnessed in Cyprus is being used as a \u201ctemplate\u201d for much of the new legislation that is being enacted all over Europe.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why Is The EU Forcing European Nations To Adopt \u2018Bail-In\u2019 Legislation By The End Of The Summer? Are they expecting something to happen?\u00a0 As you will read about below, the European Union says that any nation within the EU that does not enact \u201cbail-in\u201d legislation within the next two months will face\u00a0legal action.\u00a0 The countries [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[46,63,195,200,6069,5983,279,284,1167,4901],"class_list":["post-8872","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bail-in","tag-banks","tag-debt","tag-default","tag-economic-collapse-blog","tag-economiccollapseblog","tag-eu","tag-european-union","tag-greece","tag-michael-snyder"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8872"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8872\/revisions"}],"predecessor-version":[{"id":8873,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8872\/revisions\/8873"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}