Did you know that the EU wants to do away with the government sponsored Deposit Guarantee Fund, meaning that if your bank gets into trouble then you might lose all the money that you have on deposit? They very kindly say that you will be able to ask for some money to be released for your day to day living expense, but some banking official will “means test” you to decide how much you will receive.
As we have seen from the EU's response to Brexit and Catalonia, officials could not give two hoots about the grievances of its citizens. So, when it comes to banking there is little point in expressing disgust in the same way. Instead, investors must take stock and assess the best way for them to protect their savings from the tyranny of central bank policy.
To refresh your memory, the ECB is proposing that in the event of a bail-
"...during a transitional period, depositors should have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request."
That’s great for day to day living, but what about your savings and your future? Even if you spread your funds, it’s quite possible that several banks might collapse at the same time; it is not unprecedented. When the Cypriot banks collapsed, investors only lost 40% of their deposits; they were lucky compared to savers with tomorrow’s collapsed banks.
Be the proud owner of a Four-
The minimum investment of €40,000 secures 2% of the outstanding shares in the company. A 25% deposit into an escrow account will secure the investment until all the shares are sold when the entire €40,000 will be transferred into the company account to afford the purchase of 100% of the shares.
The company will be converted to a “sociedade anonima de capital fechado” for flexibility of future transactions and to obtain maximum advantage of company laws and taxes.
The investor/shareholders will own the entire company.
The business will be run by a Management Team on behalf of the Shareholders and will report to the Shareholders on a regular basis.
Shares are available in 2% tranches, each costing €40,000 (subject to the incentives listed below) and Shareholders will have full voting rights. Investors may purchase as many tranches of shares as they wish.
Shareholders will receive:
a. A Discount Card for all the services offered by the Hotel.
b. Two weeks low season hotel room (for personal use, friend or family).
c. Full membership of the Spa Centre.
d. Generous discount on hiring the Banquet Hall for parties, dances or other events, public or private. For example, exhibitions, seminars, sales drives or charity event organizers.
e. Use of the Recreation Centre & Outdoor Pool whenever it is open.
F. Purchasers of two tranches of shares will receive a discount, bringing the price down to €75,000 for 4% of the outstanding shares.
G. Purchasers of three tranches of shares will only pay €110,000 for 6% of the outstanding shares
EU BREAKING NEWS