A corporate collapse in Germany that may be little known to most Australians is being compared to the 2001 bankruptcy of infamous US energy trading giant Enron.
Every Australian concerned about bail-in should make a submission to the Senate Economics Legislation Committee by 10 July, demanding Parliament pass the
Make a submission to the Senate’s new bail-in inquiry and demand Parliament pass the amendment to guarantee our savings in bank deposits can’t be confiscated through a bail-in.
Australia’s banks were already precarious before the COVID-19 pandemic. Now they are in greater danger than ever from the uncertainties of how the economy will work as the government-funded hibernation comes to an end.
Across Australia people are trying to pull their savings from banks. So far it is a slow, silent “run”, not enough to be a systemic threat with crowds gathering outside of bank branches. But it is accelerating.
