Exact(16)
MPs were outraged that small savers would be asked to contribute.
Savers would be protected, initially at least, and capital flight to other euro-zone countries would be deterred.
But if there were a single pan-European deposit plan, savers would be more likely to stay put.
Schäuble, the guardian of German savers, would be sanguine about a Greek exit, since he is not interested in geopolitics.
The move to turn rates negative may kick-start bank lending and ultimately boost the economy, but savers would be dealt another major blow.
Zhou Xiaochuan, the governor of China's central bank, said that official controls on the interest rates that Chinese banks can offer savers would be lifted within two years.
Similar(44)
Before signing a contract a future PEPP saver would be given an accurate, fair and clear key information document providing information consistent with any binding contractual documents and with the terms and conditions of the PEPP.
Cut rates too far and there is a risk of causing damage to the financial sector and savers that would be counterproductive.
And most of the savers who would be hit are not Russians but, rather, ordinary Cypriots who practiced exactly the habits that too many Germans seem to disdainfully regard as un-Greek: they worked, they set money aside, and they saved to finance property purchases or retirement.
A spokesman for the independent action group Save Our Savers, Simon Rose, said: "Savers and pensioners would be delighted if interest rates were to rise in the near future.
Savers and pensioners would be delighted if interest rates were to rise in the near future.
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