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SPDR S&P 500 ETF Message Board

  • paulrmaudsley paulrmaudsley Mar 23, 2013 9:54 AM Flag

    WOW!

    Once the Laiki bank is wound down, 18,000 un"insured" depositors are looking at every dollar in excess frozen and submitted to the winding down process.

    It is being estimated that the bank resolution process could take 3 to 4 years and those accounts may incur as much as 60% losses. THIS IS ON TOP OF FIRST BEING HIT WITH A POSSIBILITY OF A 25% HIT RIGHT AWAY WITH THE DEPOSIT LEVY.

    Russian Banks are estimated to have 40 Billion in loans for Russian businesses in Cyprus. It is estimated that the Cyprus farce may affect Russian GDP by as much as - 2%.

    How bad/desperate is the situation in Europe with regards to Italy/Spain (you know, the one they're not talking about and is all fine) that the Troika thought going after Russia would be a good idea??????/

    Sentiment: Strong Sell

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