Is your money safe at the bank? An economist says ‘no’ and withdraws his

Link: Why This Harvard Economist Is Pulling All His Money From Bank Of America ?
image What about in Europe ?
FT Link: Bundesbank proposes taking money from bank accounts as a contribution towards paying Euro Zone debt!

The IMF said the tax rates needed to bring down public debt in eurozone countries to pre-crisis levels would be hefty; it reckoned a rate of about 10 per cent on households with positive net wealth.

Last year, Cypriot deposit holders were forced to take losses on their bank accounts to help pay for the country’s €10bn international bailout. But those deposits were used to limit the price tag for its rescue as opposed to paying down the country’s sovereign debt load.

How about Japan ?
Link: Japan plans to use funds from dormant bank accounts
image

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