4 ms·

What do you mean? Won't things described here: http://www.centralbank.gov.cy/nqcontent.cfm?a_id=8158&lang=en http://www.centralbank.gov.cy/nqcontent.cfm?a_id=81

• khuey 14y ago
  But the banks aren't going bankrupt. If you have 100k EUR in a bank account in Cyprus today, you're going to get 93.250k EUR on Tuesday. If instead the bank went bankrupt you'd have 100k EUR in your bank account on Tuesday too thanks to the deposit insurance. You'd be better off if the bank actually went bankrupt! The typical pro-bailout argument at this point is that if Cyprus lets the banks go bankrupt the deposit insurance scheme (in other words, the government) won't be able to make everyone whole. That argument is a tacit admission that bank accounts really are unsecured.
  • kansface 14y ago
    Not really if you consider that no one can or would pay in the case of bankruptcy.