ECB's Knot backs Dijsselbloem comments on bank rescues
Memo from the Central Bank of Cyprus sent to bank CEOs on February 11 - preceding the upper conclusion
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If the powers that be wanted a run on the banks across the world "they" are certainly going about it the right way
or is that there intention
cant find much on Google about a run - except in Cyprus
but one depositor in the US last wk, withdrew the largest single amount since 2007 around $120 billion
and know one knows why?
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European Central Bank Governing Council member Klaas Knot said on Friday there was "little wrong" with Eurogroup chair Jeroen Dijsselbloem's recipe for dealing with future euro zone banking crises, a newspaper reported.
Dijsselbloem, the head of the euro zone's finance ministers and like Knot a Dutchman, said on Monday the rescue program agreed for Cyprus - the first to impose a levy on bank deposits - would serve as a model for future crises.
Those comments - which Dijsselbloem later rowed back on -prompted a market selloff and led two other ECB policymakers, including executive board member Benoit Coeure, to say on Tuesday that Cyprus was a unique case.
But Knot, who sits on the bank's main decision-making body, said: "There is little wrong with Dijsselbloem's remarks
"The content of his remarks comes down to an approach which has been on the table for a longer time in Europe. This approach will be part of the European liquidation policy."
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