Basically, someone deposited his money in a tax haven, with patently risky banks...

bayesianhorse on March 29, 2013 | parent | context | favorite | on: “My bank account's got robbed by European Commissi...

Basically, someone deposited his money in a tax haven, with patently risky banks. Then the banks went into trouble. The European Union tries to help them avoid total loss, and now that same someone blames the EU for the partial loss.

Total loss was the alternative to the bailout...