It's also shareholders» money — are you currently investing your spare funds in
Cypriot banks?!
Scenario D (Argo cash & cash portion of Argo's investment in funds IS on deposit with
Cypriot banks, AND 100 % of deposits are blocked):
Scenario C (Argo cash & cash portion of Argo's investment in funds IS on deposit with
Cypriot banks, AND levy is 12.5 %):
Scenario A (Argo cash & cash portion of Argo's investment in funds is NOT on deposit with
Cypriot banks): See figures above!
Cypriot banks remained closed Read more -LSB-...]
(Another aside: that happened in a minor way with the Euro when Euros in
Cypriot banks were forced to have a «haircut,» while Euros elsewhere were unaffected.)
ATMs of
Cypriot banks have been emptied this weekend by anxious savers.
It was in part an olive branch he held out to Russians who'd stashed their money in the cesspools of corruption that were
the Cypriot banks: they too would be eligible for citizenship if they'd lost at least $ 3 million.
The weekend decision to strip $ 5.8 bn from the savings accounts of
Cypriot banking customers has blown a hole in the EU's ambitious reforms billed as the route out of the eurozone crisis, while potentially undermining a growing reliance at banks around the world on funding their operations with customer deposits.
Anyway, what on earth's the reward for depositing the money in
a Cypriot bank, versus say a TBTF bank in London?
And clearly they want to express their disdain for the unique nature of
the Cypriot banking system (and the Russians, who apparently weren't consulted at all).
Was it really because of
Cypriot banking controls, where a number of uninsured accounts were lost?
Not exact matches
The central
bank currently grants Greek and
Cypriot government bonds a waiver in its operations as long as the countries stay in a program that ensures their reform efforts stay on track.
As the throngs of desperate pensioners and depositors besetting Greek
banks later showed, numerous Greeks failed to properly ponder the implications of the
Cypriot example.
The
Cypriot central
bank governor says that the obstacles that exist for the country's review should be lifted.
Cyprus was forced to wind down one major
bank and impose considerable losses on large depositors in a second
bank in return for $ 10bn in aid from the International Monetary Fund and the European Union in a move that was devastating to both
Cypriots and foreign investors.
Postová
Bank from Slovakia and its
Cypriot shareholder, Istro Kapital, are challenging the terms of the Greek restructuring in an arbitration tribunal.
In April 2013 it was announced that all UK accounts at the
Cypriot - owned Marfin Laiki
Bank were to be sold to
Bank of Cyprus UK.
KIEV (Reuters)-- Ukraine's largest
bank, PrivatBank, said on Monday it had filed a $ 3 billion lawsuit against the Ukrainian and
Cypriot subsidiaries of international accounting firm PwC for alleged...