Italy’s teetering banks will be Europe’s next crisis

Putting cash in a bank account is actually you lending money to the bank (for them to lend to other people), not a neutral store of an asset, like if you put physical bills or gold or whatever in a safe. If the bank goes bankrupt, that mean it's creditors (you) don't get paid, or get paid less than they're owed. To prop up trust in the banking system, governments insure bank deposits, in the Eurozone up to a value of €100k.

If you invest instead, you own (a piece of) something physical - a business or a property, typically. A house can burn down and the business can go bankrupt, in which case you lose your investment (unless you're insured). Banks in Italy are incredibly unhealthy at the moment, so to protect your money, you would want to put it in something more healthy, which might simply be a bank account in a not-Italian bank, or as proposed, assets of healthy businesses.

Reneging on an insurance guarantee or forcefully converting deposits to a different currency is a substantially different legal beast than confiscating property (which your shares would be). Perhaps, given that they serve roughly the same end, that shouldn't be the case, but it is.

do you draw a distinction between currency and money?

You're beef should be with government (crony-capitalism), not banking. A bank can't force you to bail it out, only government can do that. The "force" 100% resides with the government, not the bank.

I am really amazed and frighten everytime I read anything about politics - economics on HN.

So we see all this BS about "work less", "meditation", "how trees calm us down", etc. but in fact when you do read across the lines you only see a crowd of hypsters totally obsessed with economics, money-money-money, free market, productivity, basicaly : materialism as the holy grail.

Allo ? Is there any European in these comments ? I mean, we all know the USA where a European colony from the XVI century, but the country as it is today seems to be born only 250 years ago, and maybe more acurately with the secession war and the yankees take over. That my friend is just nothing, dust in the wind, in the scale of history.

So we have this bunch of unsocializes nerds IT guys asking for every European nation to give up their own culture and souveirgnty for a centralized Federal State, certainly in the model of the glorious USA, and if possible infeodated to it. What's the next move, maybe get rid of any state currency to go all the way with bs bitcoins ?

France was born in 496 when Clovis was baptized as a catholic. Our history and culture is not about cars, movies, fast foods and Wall Street. Just come and visit to check it out and learn a few things about the history of the world.

There is more than Banking and Wall street and metrics and GDP in life. Actually, let me correct this, these are all the things which are actually not Life. So just respect the right of a nation to exists as it is and to give to her childrend what her parents gave her since centuries.

So Brexit is all in the rage now, great, the world is collapsing, maybe Germany will engage war with UK and laucnh a bunch of V2, who knows ? Bullshit. UK will go fine walking away, much better in fact that France and Germany are right now, our corrupted politics just fear that all the nations figures that sooner or later and ask to leave EU asap.

LET ME REMIND ALL THE HN READERS OF SOMETHING RIGHT NOW : Brexit is no a unique event, some want not to remember that France, Netherlands and Ireland had their own "Brexit" moments and the EU did denied the rights of these people to leave. I urge you to refer to the 2005 french referendum about the EU constitution, who was rejected by the french people, just to have it passed a few month later by the parliament denying any direct democratic right to the nation. That went also in the Netherlands. And they made people of Ireland vote twice, just till they vote what they wanted them to.

Please, do not make Europe another heartless Silicon Bullshit Valley with absolutely no history except the atrocious gold rush and the infamous tech boom. Facebook is not history, let us keep Pascal and Academie Française in lieu of Snapchat and Tinder, if you please, in the name of the french people.

I said.

The EU and Eurozone are two different entities. The UK is not part of the Eurozone.