View Single Post
Old 03-19-2013, 12:27 PM  
_Richard_
Too lazy to set a custom title
 
_Richard_'s Avatar
 
Industry Role:
Join Date: Oct 2006
Location: Vancouver
Posts: 30,985
Quote:
Originally Posted by JFK View Post
so i was curious of what a 'full sovereign bailout' meant.. so:

"A period of time in which several European countries faced the collapse of financial institutions, high government debt and rapidly rising bond yield spreads in government securities. The European sovereign debt crisis started in 2008, with the collapse of Iceland's banking system, and spread to primarily to Greece, Ireland and Portugal during 2009. The debt crisis led to a crisis of confidence for European businesses and economies. "

and the reason the Iceland banks failed is because the country was economically attacked by the UK. So some bank was providing 'online banking services', the UK government used laws enacted for fighting Terrorism to freeze all the funds and in effect, 'kill the banks'

so, are we under attack by our own countries?
_Richard_ is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote