Rehn: “We are preparing a directive for haircut on deposits”

Rehn: “We are preparing a directive for haircut on deposits”

 

Speaking earlier today on Finnish TV, Economic and Monetary Affairs Commissioner Olli Rehn said the European Union is preparing a directive according to which in the event of a bank collapse the major depositors will contribute to its rescue.

“Cyprus was a special case, but the European directive will stipulate that in case of a bank’s collapse or restructuring, the responsibility will burden investors and major depositors as well,” Rehn said.

Photo Proto Thema