Topic: My bank account's got robbed by European Commission. Over 700k is lost. - page 18. (Read 408455 times)

This shouldn't be a surprise to anyone, and is not new.
Bank deposit guarantee schemes almost always have a limit on the amount guaranteed if the bank collapses.

What exactly happened? Google not helpful.

Klagenfurt. So schnell kann es gehen: Nach der Unterschrift des Bundespräsidenten und Gegenzeichnung des Bundeskanzlers ist das umstrittene Hypo-Sondergesetz nun seit Nachmittag, 31. Juli, offiziell kundgetan. Nun hat die Finanzmarktaufsicht (FMA) zwei Wochen Zeit, die in Arbeit befindliche Umsetzungsverordnung zu erlassen.

Auf dem Verordnungsweg werden die vom Schuldenschnitt, der Mitte August anläuft, erfassten Anleihen benannt. Sie werden für erloschen erklärt. Dann darf von den Gegnern - also in erster Linie vom Schnitt betroffene Parteien - Beschwerde eingebracht werden, was zu erwarten ist.

Mit dem Sondergesetz für die staatliche Krisenbank Hypo Alpe Adria lässt die Republik Gläubiger von landesgarantierten Nachranganleihen im Volumen von 890 Mio. Euro bluten. Betroffene Anleihegläubiger und etliche Juristen sehen die Wertloserklärung der Verbindlichkeiten als Enteignung.

Zwar können Anleiheinvestoren auf die Herausgabe von Geldern erst klagen, wenn die jeweilige Bond-Tranche fällig ist. Verfassungs- und Feststellungsklagen sind aber schon früher möglich.

Etwa von der Weltbank, die in Hypo-Anleihen mit Kärntner Landesgarantie investiert ist, wird erwartet, dass sie vor Gericht auf ihren rechtlichen Sonderstatus verweist und sich wohl durchsetzt.

Im Gesetz ist auch die Einrichtung einer Abbaugesellschaft festgeschrieben.

This guy just lost 3 million Euros at a bank (BES) bankruptcy at Portugal, sorry this is video and in portuguese but can't find any english version:

http://www.tvi.iol.pt/videos/14179041

By the way, this style of "bank restructuring" is going to be adopted in the whole European Union.
Soon, everyone's uninsured money (over 100K EUR) in EU banks will be at risk of seizure.

I first heard this news from person who is affected. He stated that his money on Hypo-Alpe bank account is gone.

Anyway, Moody's confirmed that this is happening now in Western Europe:

Frankfurt am Main, July 22, 2014 -- On 8 July, the Austrian Parliament passed legislation that allows the government to bail-in the subordinated debt holders of nationalised Hypo Alpe-Adria-Bank International AG (HAA) and void the deficiency guarantee of the State of Carinthia (A2 stable) on that portion of the bank's debt. From Moody's perspective, the government's decision to place taxpayers' interests above the rights of creditors is unprecedented to the extent that it reneges on a public-sector guarantee.

So it wasn't bailed in with depositors' money, it was bailed in with bondholders' money.

The government's decision to place taxpayers' interests above the rights of creditors is unprecedented to the extent that it reneges on a public-sector guarantee

The economist had a little info:
http://www.economist.com/news/finance-and-economics/21604580-small-bank-puts-europes-new-dogma-failing-banks-test-hungry-hypo

Plus:
http://www.euromoney.com/Article/3361560/The-spectre-of-bail-in-risk-across-Europe.html

What exactly happened? Google not helpful.

On 8 July, the Austrian Parliament passed legislation that allows the government to bail-in the subordinated debt holders of nationalised Hypo Alpe-Adria-Bank International AG (HAA) and void the deficiency guarantee of the State of Carinthia (A2 stable) on that portion of the bank's debt. From Moody's perspective, the government's decision to place taxpayers' interests above the rights of creditors is unprecedented to the extent that it reneges on a public-sector guarantee.

What exactly happened? Google not helpful.

Nobody even noted how Hypo Alpen bank in Austria collapsed recently and then was bailed-in with 100% of depositor's money and how country's parliament void of all insured deposits from that bank.

Is he now a proud shareholder of a respected bank?

Ridiculous..

First 100k was refunded, everything else is gone for good.

Im scared AF to cash out on my little Bitcoins I have, it's very scary to know they can froze your entire saving accounts out of nowhere. My friend tried to withdraw 0.5 BTC and he got his bank account frozen until they basically want to unfroze it. I'll have to re-check im doing it all perfect if I ever want to withdraw some BTC.

Offshore bank accounts are no more solution after FATCA. Every USD transfer can be stopped by US intermediary bank. Many offshore financial companies are investigating bitcoin potential right now.

But rare antiques, exclusive real estate, gold and resources are still good way to save your wealth.

This is why millionaires keep their money in offshore bank accounts, or precious metals like gold, or priceless/expensive paintings/artifacts etc etc.