Bank Runs coming to UK again so soon?

Lewis1967

It amazes me how the mainstream news is hiding all the bank runs picking up speed around Europe. It is understandable but how much longer can they try and distract to hide the truth?

The news that is not getting reported on the BBC

Major Italian Bank Freezes All Customer Accounts

http://blog.alexanderhiggins.com/2012/06/11/major-italian-bank-freezes-all-customer-accounts-143851/

This Policeman says Massimo, policeman in Milan speaks for all: when I went to pay the mechanic office for my car the bancomat did not work, nor was I able to make a transfer. Actually, they took all my money away. Now I have 20€ in my wallet, a wife and two daughters, what am I going to do? My account is also where my salary goes to, so what now?

http://the2012scenario.com/2012/06/more-on-closure-of-bni-italy/bancomat/

FTBFun

Oh not this again. Please regale us with your stories of how people legs melted after Fukushima - they were rather entertaining.

yangptangkipperbang

Has it not occurred to you that this so called "Major" bank is so small that no one else bothered to report it. If it had been reported in the mainstream media - would it have been true ? Like the Sunday Sport (?) reporting that a Lancaster bomber had been found on the moon.

If you look at all the blogs and websites that report this "Major" financial happening in the backstreets of Italy - they all quote each other !

Who the h*** is Alexander Higgins anyway !

Lewis1967

Mikedkt wrote: »

The other bank runs around Europe seem to be spreading. Greece is having about a billion every day drawn out, Spain a bit less but italy even more. Reports are in Italy and Ireland banks are freezing accounts to stem the flow out. Is it time to start withdrawing cash out of our accounts to beat the rush coming to the uk? I was in the lines outside N rock and it's not nice at all. I had no cash at home and all my wages went into my account. Sudden realization can be scary.

I was not involved with Northern Rock but I knew an old couple who were and they got very worried. Now they do not keep much in any bank, its not like you are going to get any interest worth anything anyway.

Lewis1967

EU talking about limiting ATM withdrawals,

Belgium's finance minister, Steve Vanackere, said at the end of May that it was a function of each euro zone state to be prepared for problems. These discussions have been in that vein, with the specific aim of limiting a bank run or capital flight.

http://www.irishtimes.com/newspaper/breaking/2012/0612/breaking24.html

Not doing a very good job if their aim was to limiting bank runs.

FTBFun

BTW OP your second link is from a blog that is the ramblings of a nutter it seems - I can see why you liked it:

http://the2012scenario.com/2012/06/message-from-the-galactic-federation-of-light-june-11-2012/

Lewis1967

Greek Bank Run Update: Up To $1 Billion A Day Now

http://www.zerohedge.com/news/greek-bank-run-update-1-billion-day-now

Bank ‘Holidays’, ATM and Deposit Withdrawal Restrictions and Capital Controls Loom

Read more: http://www.businessinsider.com/gold-to-protect-as-bank-holidays-atm-and-deposit-withdrawal-restrictions-and-capital-controls-loom-2012-6#ixzz1xlPPDuCu

http://www.businessinsider.com/gold-to-protect-as-bank-holidays-atm-and-deposit-withdrawal-restrictions-and-capital-controls-loom-2012-6

Yes yes everyone is right, it is just a small thing that will all be over by the weekend. NOT!

paddyrg

http://www.investmenteurope.net/investment-europe/news/2183045/italys-consultinvest-steps-rescue-banca-network so the news element is the bank being bought out, not that it went into administration last year?

FTBFun

This just gets better - your first link to this one is submitted by one "Tyler Durden"

Generali

They seem to be a strange outfit as they are franchises (I think anyway, my Italian is rubbish)

http://www.bni-italia.com/index.php?pagina=4

2 things make me think they're not a big bank:

1. They don't have a website in English so they clearly don't want foreign business (pretty much nobody speaks Italian in international terms)
2. I have worked in banking for 15 years and never heard of them.

Lewis1967

Generali wrote: »

They seem to be a strange outfit as they are franchises (I think anyway, my Italian is rubbish)

http://www.bni-italia.com/index.php?pagina=4

2 things make me think they're not a big bank:

1. They don't have a website in English so they clearly don't want foreign business (pretty much nobody speaks Italian in international terms)
2. I have worked in banking for 15 years and never heard of them.

I have never heard of them either but I have not heard of many major banks around the world.

The article says a major Italian bank.

This is the English

Suspension Of Payments
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.
SUSPENSION OF PAYMENTS
EXTRAORDINARY ADMINISTRATION
TRANSPARENCY
PRIVACY
MIFID
DISCLAIMER
Source: Bank Network Investments SpA (BNI)

http://blog.alexanderhiggins.com/2012/06/11/major-italian-bank-freezes-all-customer-accounts-143851/