Tag: Nicos Anastasiades

• Monday, April 1st 2013 - 09:46 UTC

  Cyprus depositors over 100.000 Euros could lose 60% of their savings

  

  Bank of Cyprus depositors with more than 100.000 Euros could lose up to 60% of their savings as part of an EU-IMF bailout restructuring move, officials say. The central bank says 37.5% of holdings over 100.000 Euros will become shares.

• Monday, March 18th 2013 - 07:26 UTC

  Cyprus bailout conditions trigger fears of Euro debt crisis escalation and run on banks

  

  Asian markets have dipped after Cyprus bailout plans triggered fears of an escalation of the Euro zone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10bn Euros and although the plan is yet to be finalised, the news of the deal caused a rush to the cash machines in Cyprus as people tried to withdraw money.