(Credit: AFP archives)
They’ve been on everyone's lips, but they’ve remained silent since the crisis commenced. While some depositors, shattered by the banking collapse and illegal restrictions, made the headlines as they protested or forced access to their own money, this has not been the case for the largest depositors. That is particularly true for millionaires, who issued no statements and have had no official representations, except for a few individual trials abroad.Yet it is in the name of their interests — presented as those of all depositors — that the political class and bankers continue to oppose the successive government plans for bank restructuring and resolution. All these plans provide for a guaranteed minimum repayment — which was dropped from $500,000 in 2020 to $100,000 in the latest draft that the current cabinet prepared. However, the...
They’ve been on everyone's lips, but they’ve remained silent since the crisis commenced. While some depositors, shattered by the banking collapse and illegal restrictions, made the headlines as they protested or forced access to their own money, this has not been the case for the largest depositors. That is particularly true for millionaires, who issued no statements and have had no official representations, except for a few individual trials abroad.Yet it is in the name of their interests — presented as those of all depositors — that the political class and bankers continue to oppose the successive government plans for bank restructuring and resolution. All these plans provide for a guaranteed minimum repayment — which was dropped from $500,000 in 2020 to $100,000 in the latest draft that the current cabinet prepared. However,...
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