The bail-in of troubled banks in the Eurozone is now in effect after the finance ministers agreed to adopting the measures over the weekend. This now ensures that what happened in Cyprus is the norm when it comes to future financial bailouts, and effectively ensures that now the entire western world is ready for the final collapse.

From BBC:

The terms now agreed by finance ministers will still leave individual national governments on the hook for much of the risk of future bank rescues. In addition, the bank’s shareholders, bondholders, lenders and even large depositors, may also have to contribute ahead of any funds from the ESM, a process known as a bail-in.

And in other news we learn that UK and China have just signed a direct currency swap agreement putting another nail the US dollar’s coffin.

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