Saturday, March 23, 2013

Cyprus Depositor Haircut: 25% Off the Top for the Rich

The PJ Tatler » Cyprus Depositor Haircut: 25% Off the Top for the Rich:
"He confirmed discussions were centered on a possible levy of around 25 percent on holdings of over 100,000 euros at Bank of Cyprus, and expressed hope that a package could be ready by the end of the day for approval by parliament.
Cyprus faces a Monday deadline to clinch a bailout deal with the EU or the European Central Bank says it will cut off emergency cash to the island’s over-sized and stricken banks, spelling certain collapse and a potential exit from Europe’s single currency."

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