Bank Run Alert: Draghi Says ECB Has Open Mind On Negitive Deposit Rate Savers Need To Pay Banks For Holding Their Money!

And there goes the euro.

After spiking earlier on the rate cut, the euro is diving.

FinViz

Euro tanks as*DRAGHI SAYS ECB HAS OPEN MIND ON NEGATIVE DEPOSIT RATE

— Sara Eisen (@saraeisenFX) May 2, 2013

Read more: http://www.businessinsider.com/the-euro-is-suddenly-diving-after-mario-draghi-discusses-possibility-of-negative-rates-2013-5#ixzz2S8rvVuFa

9:00 AM: There was a very strong, prevailing consensus toward an interest rate cut, and within that, there was a prevailing consensus of a 25 basis-point cut.

9:02 AM: The ECB has an “open mind” on taking the deposit rate negative.

9:03 AM: The ECB is not in the business of monetary financing and can’t clean banks’ balance sheets.

Read more: http://www.businessinsider.com/ecb-rate-decision-may-2-2013-5#ixzz2S8s9IhhO