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Everbank lets depositors send cash abroad by offering certificates of deposit in 19 currencies and overnight accounts in 20, which are protected by deposit insurance.
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Pre-emptively, the depositors send their money outside Ireland, where it still represents safe euros or perhaps sterling, accessible by bank transfers and A.T.M. cards.
Instead of letting depositors lose their money or even wait for compensation from the bankruptcy estate, the governments of the UK and Netherlands (where the Icesave products where marketed) decided to reimburse depositors from their own countries.
"People remember that during the 1980s savings and loan crisis, it didn't let depositors who'd exceeded their limits go down".
Mr van Steenis thinks the precedent would be highly destabilising, not just for hard-pressed countries like Spain but more widely for weak banks in the euro area.Such worries will probably let depositors off the hook.
Last week, the initial plan to seize money from even modest bank depositors sent swarms of panicked residents to automated teller machines to try to withdraw their money.
Let's send that signal".
Let's send it up!
Let's send Paul O'Neill to Afghanistan.
"Let's send them home for today," he concluded.
"Let me send her my book 'Bad Mother,' " Waldman said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com