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<p> It seems Friday or the weekend is usually when the juicy information from governments become published. <a href="https://www.reuters.com/article/us-eu-banks-deposits-idUSKBN1AD1RS">EU explores account freezes to prevent runs at failing banks.</a></p>
<blockquote> <em> European Union states are </em><em><ins><strong>considering measures which would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs,</strong></ins></em><em> an EU document reviewed by Reuters revealed. The move is aimed at helping rescue lenders that are deemed failing or likely to fail, but critics say it could hit confidence and might even hasten withdrawals at the first rumours of a bank being in trouble. </em><em><strong>The proposal, which has been in the works since the beginning of this year, comes less than two months after a run on deposits at Banco Popular contributed to the collapse of the Spanish lender.</strong></em><em> Giving supervisors the power to temporarily block bank accounts at ailing lenders is “a feasible option,” a paper prepared by the Estonian presidency of the EU said, acknowledging that member states were divided on the issue. EU countries which already allow a moratorium on bank payouts in insolvency procedures at national level, like Germany, support the measure, officials said. </em><em><ins><strong>“The desire is to prevent a bank run, so that when a bank is in a critical situation it is not pushed over the edge,”</strong></ins></em><em> a person familiar with German government’s thinking said. The Estonian proposal was discussed by EU envoys on July 13 but no decision was made, an EU official said. Discussions were due to continue in September. Approval of EU lawmakers would be required for any final decision. </em> </blockquote>
<p> <strong>YOUR </strong>bank account can now be frozen for the greater good of protecting a failing bank. This right here should be an incentive for <strong>SANE </strong>individuals to run as fast as you can and remove everything before the mirage fads and the chickens come home to roost. </p>
<p>Courtesy of Mike Shedlock, he's obtained data directly from the ECB website and has put it altogether in simple chart formats. Take a look below.</p>
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<p> Even Charlie Bannister of the Association for Financial Markets in Europe (AFME), a banking lobby group, said. <strong>"We strongly believe that this would incentivize depositors to run from a bank at an early stage," </strong></p>
<p><strong>As a matter of fact i happen to agree with him .I've been ahead of the curve and removed my funds from any UK or EU bank many years ago.</strong></p>
<p><strong>Heed this shot across the bow as they are running out of warning shots and the next might be a live drill.</strong> </p>
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