Germany has the defensive battle against the common deposit insurance in the EU as good as lost. Although the Bundesbank warns now officially against the consequences and says it will be a liability give no control But the warnings of the Bundesbank are unheard died away in other topics:.. This applies to the low interest rates as well as the various euro rescue maneuvers Chancellor Angela Merkel, who still categorically excludes today that it will come to that, has in all other Questions of euro rescue her originally seemingly tough position never enforced: that the ESM pays just before Christmas another billion euros to the Greek government for the debt service, for many barely worth mentioning, let alone criticism entirely.
A senior banker describes the German Economic News that the situation is clear:
“ The pooling of Deposit Guarantee Schemes is decided (regulation often he European Parliament and of the Council, Stand November 24, 2015, issued in Strasbourg). It is a sophisticated “Proposal”, which contains 69 pages on the precise regulations. About the design coordinate the European Parliament and of the Council of the European Union. Both have simple majority decisions. Parliament has already expressed its willingness. The Council of the European Union decides as his subordinate given Euro Group of Finance Ministers decide. Its chairman Jeroen Dijsselbloem, Netherlands, has twice declared this month that the communitarisation come as designed and there will be no special role for the German deposit insurance . At the moment it’s all about the time frame, if not later than 2024 or earlier “
In practice, will do so, the bankers, are:
“. Even today there are only individual deposits up 100,000 euros protected. The Deposit Guarantee Schemes of savings and cooperative banks are based on a voluntary institution assurance that the private banks on equity terms. These are optional extras not found in the draft again, for it is there that all citizens in total for the Community deposit insurance individually liable with their savings assets up to 100,000 euros per citizen. Discussed will be whether the EU Deposit Guarantee for the EU or the euro zone should be.
For the German depositors, not only the ordinary savers, means the communitarisation that others on his property will decide, without consulting him. the 100,000 limit is to be designed so that social criteria are developed, so that the general access is already restricted it. “
The British government has stated, that British citizens are liable neither for the EU nor for the euro area. The EU’s Deposit Insurance is important building block for the “Proposed referendum on United Kingdom membership of the European Union ‘. The British Government was informed that will not be discussed on the participation of British savers, even if Great Britain will not sign the regulation.
As an example, the EU calls the United States with their social security and DGS. This is a system of coercion of a State. This is also clear why the EU wants to introduce this system: You still aims the unitary state of After the introduction of the euro, the task of the national borders and the direct protection of the EU’s external borders by its own border guards. and the joint police-competence is the common responsibility for the banks the next logical step in this direction.
The leading associations of savings and cooperative banks Although have to EU President Jean-Claude Juncker written, but only get an answer sustained response. The associations trust the federal government and we hope that it fights by the fight to the bitter end. How much statements of Juncker are worth the Russia sanctions have shown: Juncker had said a few weeks ago, the EU had to return to a cooperative relationship with Russia. A little later, the renewal of sanctions was adopted – without further discussion. A request Juncker on the subject is unknown.
The German savers are therefore well advised to orient themselves how they want to manage their credit or savings. this yet are in the current systems relatively safe. For too long, the savers should not weigh in this false sense of security.
DWN editor Michael Maier explains in his new book, why the access to the savings of the modern wars and thus inevitably is: The states have all over the . moderation in debt in the story are always occurred two events in such situations: wars were waged in order to identify an external enemy at the same time the depositors were expropriated in order to fund the war and to deleverage the States inconspicuously
The management journal proclaims: “Whoever wants to understand the global political, economic and military problems in the world, needs to read The End of comfort ‘.”
Michael Maier: “. The end of the conveniences of modern war Germany and Europe change ” Financial Publishing Munich, 228 pages, € 19.99.. Order the book here directly from the publisher
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