Saturday, June 6, 2015

EU Commission calls out 11 countries to pass bail-in legislation or face the court of justice

Following the agreed upon resolution signed by all member states of the G20 to ensure that they pass legislation to prepare for the use of depositor funds during the next banking and financial crisis, the European Commission on June 3 issued a harsh warning to 11 EU countries who have not fulfilled the requirements agreed to back in January.  And according to the EC, if these nations do not pass the necessary laws and rules within the next two months then they will have to face the EC Court of Justice and deal with the ramifications.
Makes one wonder what may be occurring in two months time?
Graphic courtesy of Goldcore


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