EU Takes Countries To Court Over ‘Bail-In’ Laws

By Mark O’Byrne – Re-Blogged From http://www.Silver-Phoenix500.com

The European Commission is taking legal action against six European countries, including the Netherlands and Luxembourg, after they failed to implement rules that would allow for depositors to have their cash confiscated.

Six countries will be referred to the European Court of Justice (ECJ) for their continued failure to transpose the EU’s “bail-in” laws into national legislation, the European Commission said last Thursday according to The Telegraph.

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