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It can happen here: Cyprus-style confiscation planned for US

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the U.S. Federal Deposit Insurance Corporation and the Bank of England dated Dec. 10, 2012, shows that these plans have been long in the making.

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