The European Commission has released the first paper discussing the methods for defaults of European banks. It may be called burden sharing, restructuring, or just not paying the debt. The paper is a draft, which is open to contributions until March 3rd, and aims for official approval by the summer. More details brought Tracy Alloway. One can find comfort in the draft, which says that current debt holders might be safe (emphasis, Alphaville): Fair burden sharing by means of financing mechanisms which avoid use of taxpayer funds. This might include possible mechanisms to write down appropriate classes of the debt of a failing bank to ensure that its creditors bear losses. Any such proposals would not apply to existing bank debt currently in issue. It also includes setting up resolution funds financed by bank contributions. In particular the Consultation seeks views on how a mechanism for debt write down (or ‘bail-in’) might be best achieved, and on the feasibility of merging deposit guarantee funds with resolution funds. The shares of troubled Irish banks, Allied Irish Bank (nyse:aib) and the Bank of Ireland (nyse:ire) are falling. Read more about the possible defaults of Irish banks. Anyway, the Swiss National Bank already refuses to take debt of Irish banks as collateral… This has been one of the burdens hurting the Euro, which lost critical support, and is now just above 1.30. For more on the common currency, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex Bits share Read Next AUD/USD Jan.7 -Aussie Continues Decline Against USD Tamar Schoppik 12 years The European Commission has released the first paper discussing the methods for defaults of European banks. It may be called burden sharing, restructuring, or just not paying the debt. The paper is a draft, which is open to contributions until March 3rd, and aims for official approval by the summer. More details brought Tracy Alloway. One can find comfort in the draft, which says that current debt holders might be safe (emphasis, Alphaville): Fair burden sharing by means of financing mechanisms which avoid use of taxpayer funds. This might include possible mechanisms to write down appropriate classes of the debt… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
