CYPRUS: DEPOSITORS MIGHT BE ISSUED BANK STOCK WORTH 37.5% OF AMOUNTS OVER 100,000 EUROS, “WHILE THE REST OF THEIR DEPOSITS MAY NEVER BE PAID BACK”

March 30th, 2013

Killing Joke – European Super State from Digital Beast on Vimeo.

Via: Reuters:

Big depositors in Cyprus’s largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, the source told Reuters, while the rest of their deposits may never be paid back.

The toughening of the terms will send a clear signal that the bailout means the end of Cyprus as a hub for offshore finance and could accelerate economic decline on the island and bring steeper job losses.

Officials had previously spoken of a loss to big depositors of 30 to 40 percent.

Related: Betray Your Bank Before Your Bank Betrays You

Posted in Collapse, Dictatorship, Economy, Elite | Top Of Page

One Response to “CYPRUS: DEPOSITORS MIGHT BE ISSUED BANK STOCK WORTH 37.5% OF AMOUNTS OVER 100,000 EUROS, “WHILE THE REST OF THEIR DEPOSITS MAY NEVER BE PAID BACK””

  1. tito says:
    March 31, 2013 at 12:12 am

    Woah,

    So if that 20 tons of opium was Russian mob/secret police and the Russian mob/secret police loses it’s cypruss deposits, who’s playing chicken with WWIII?

    It’s just speculation, but if someone jerked the rug out from under their annual income stream and then took out their bank deposits, someone is playing a very aggressive game.

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