Monday, March 25, 2013

News update 19/03/2013

News update 19/03/2013

Καλημέρα σε όλους.

Latest news from BBC:
Eurozone finance ministers (Eurogroup) tell Cyprus to protect small investors from proposed bank levy as part of EU bailout 

Cyprus can amend the terms of a bailout deal that has sparked huge public anger and led to heavy cash withdrawals, German and European bank officials say.



Cyprus heads for cliffhanger parliamentary vote on deposits tax


Cyprus starts to lose its appeal for wealthy Russians


FOREX-Cyprus bailout fears drive Euro to near 3-month low vs dlr




Insight - How Europe stumbled into scheme to punish Cyprus savers

In the early hours of Saturday morning, Dijsselbloem, who serves as head of the euro zone minister's group, proposed that uninsured depositors pay 12.5 percent, a level which would require insured depositors to pay only 3.5 percent or so.

Anastasiades stormed out of the meeting in anger. He returned only when senior negotiators told him that if he left, Cyprus would have to default and shut its banks altogether.

Finally he agreed to the levy, but insisted on capping the fee for uninsured depositors at no more than 9.9 percent.

Exhausted officials did the sums. To raise the other 2 billion, insured Cypriot depositors with small accounts would have to pay a 6.75 percent levy on their savings. The deal was done.


UK Cypriots scramble to beat savings levy by moving money

No comments:

Post a Comment