According a study of a European institution especially the sourthern states of Europe has banking deposits of more than 100k. I do not claim that every European has more than 100k, but the most have. Europe is the most wealthy region in to world.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.
But even when the people would have one fifth of the deposit on their banking account (what is very likely) it would still 100 billion.
Let me tell you with 100% certainty that very few Europeans have current accounts with €100,000 in them.
You are confusing total wealth with bank deposits. People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows. There would be no need for such a huge sum were all of the banks in the EU to suddenly fail. I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800
You are confusing total wealth with bank deposits. People have money tied up in their home and other investments, savings accounts are not for holding all of your assets especially with interest rates being at all time lows. There would be no need for such a huge sum were all of the banks in the EU to suddenly fail. I don't know the exact figure today but in 2010, the average EU person's bank account was around €6800
Sorry to disappoint you, this is a promise the EU and your country could not hold when it comes to extreme.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).
People have right on their money. Still due to the economic system followed over the past people have money and certain value assigned for money. So certain changes need to be done in economic system.
People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.
Not in my country, friend! Our deposits are insured. I get my money back if bank closes. 100% coverage up to 100k.
100k € times 500 million people are 500,000,000,000,000 € (in words 500 trillion).
People have right on their money. Still due to the economic system followed over the past people have money and certain value assigned for money. So certain changes need to be done in economic system.
People think they have right on their money.
Whereas in reality they have right on nothing as they don't own money. Banks own money and people have bank credit that's all. If a bank closes you lose all your money.
Not in my country, friend! Our deposits are insured. I get my money back if bank closes. 100% coverage up to 100k.
Yeah. which means only 4% of what's necessary is insured.
No. 100% is insured and .8% is held in reserve.
Also those figures from previous poster are wayyyy off.
I'm done wasting my time with this. Look it up.
Well as you wish. It doesn't matter whatever you believe. Fact is here, I don't see where they would find the money in case of bank crash!
Yep. There is simply no way to create more money as debt. You're right. I give.
Ahahah! Great! So the debt will simply be transfered to another bank with higher interests...
Quite likely the IMF in a serious case, yes. Did you actually read any of my earlier posts? I already mentioned that. As well as the US bailout in which case the taxpayers are on the hook for UNinsured debt.
Pff... Tell this to the Greeks...
Sure. If I can find one who lost his insured deposit to bank failure, I will mention it.
http://blogs.wsj.com/briefly/2015/07/02/when-greek-banks-reopen-will-all-the-money-be-there-the-short-answer/
Here is why you're wrong. It all depends on the ECB nothing more.
No that is not in the mandate of the ECB and they overstepped their authority
