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MAY 07, 2013 - Zero Hedge

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The Real Cypriot "Blueprint" - How To Confiscate $32 Trillion In "Offshore Wealth"

The Cypriot deposit confiscation has come and gone (and in a parallel world in which the global Bernanke-put never existed and in which bank shareholders were not untouchable, this is precisely how real-time bank restructurings should have taken place), but fears remain that the country's "resolution" mechanism will be the template for future instances of "resolving" insolvent banks. That may or may not be the case: the only way to know for sure is during the next European bank bailout, but one thing is certain - Cyprus was certainly a template when it comes to how a world full of insolvent ... Read More

Tags: The Real Cypriot "Blueprint" - How To Confiscate $32 Trillion In "Offshore Wealth",  Hedge Funds Latest News