I think may have found this one on the the PP threads today...
If so, I apologize... However, if this is true, it is mind-boggling and more than a bit scary...
Besides the obvious panic and chaos that would result if my bank here shut me out of access to my accounts for a month (with no guarantee that my assets would still be there) but that there could be such a media black-out on this...
Very sobering...
http://blog.alexanderhiggins.com/2012/0 ... ts-143851/
Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story
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Re: Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story
Honestly I suspect this is just an internet hoax that has gotten some traction. I can't find a single reputable news source reporting the story. I also can't find a website for this alleged bank. A Google news search came up blank. But so did a subject search seeking any reference to this so called bank other than the web rumors being reported over the last 2 days or so. You would think even a small bank would have some kind online reference to its existence... somewhere.
Pending evidence to the contrary I am calling bullshit on this story.
Pending evidence to the contrary I am calling bullshit on this story.
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Re: Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story
OK. It appears there is a website connected to this bank.
http://www.bancanetwork.it/content/sosp ... -pagamenti
with a notice up. http://www.bancanetwork.it/content/sosp ... -pagamenti
I still think this is fishy as hell. But who knows.
http://www.bancanetwork.it/content/sosp ... -pagamenti
with a notice up. http://www.bancanetwork.it/content/sosp ... -pagamenti
I still think this is fishy as hell. But who knows.
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Re: Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story
Thanks for your diligence and follow-up... Like I said, "if this is true", because I too find it hard to believe this would have fallen thru the media cracks...
FYI here is the translation:
On 31 May 2012, the Special Commissioners of Bank Network Investments SpA in Extraordinary Administration (MI), with the approval of the Supervisory Committee and with the approval of the Bank of Italy, have decided to suspend the payment of liabilities of any kind, pursuant to art. 74 of Leg. September 1, 1993. 385 (TUB), for the period of one month. The suspension does not include client financial instruments.
The measure was necessary to face the difficult situation of the bank.
Organs extraordinary Bank Network Investments SpA, an intermediary member of the Interbank Deposit Protection Fund, are developing a plan for solving the crisis in order to safeguard clients' rights, provides for the intervention of Consultinvest SIM Group and Bank savings of Ravenna.
FYI here is the translation:
On 31 May 2012, the Special Commissioners of Bank Network Investments SpA in Extraordinary Administration (MI), with the approval of the Supervisory Committee and with the approval of the Bank of Italy, have decided to suspend the payment of liabilities of any kind, pursuant to art. 74 of Leg. September 1, 1993. 385 (TUB), for the period of one month. The suspension does not include client financial instruments.
The measure was necessary to face the difficult situation of the bank.
Organs extraordinary Bank Network Investments SpA, an intermediary member of the Interbank Deposit Protection Fund, are developing a plan for solving the crisis in order to safeguard clients' rights, provides for the intervention of Consultinvest SIM Group and Bank savings of Ravenna.