Another writer interprets Canadian federal budget “bail-in” as allowing for Cyprus-style confiscation of bank deposits
The Canadian Government Offers “Bail-In” Regime, Prepares For The Confiscation Of Bank Deposits To Bail Out Banks (http://www.zerohedge.com/contributed/2013-03-30/canadian-government-offers-bail-regime-prepares-confiscation-bank-deposits-ba)
Reggie Middleton, Zero Hedge | March 30, 2013
Part of the Canadian budget (pages 144-145) quoted:
… The Government proposes to implement a “bail-in” regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. …