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"... the EU urged Cyprus to collectively punish all deposit holders regardless of balance." Is this true? I feel like citation is needed for that statement. I
by kalms 14y ago
"... the EU urged Cyprus to collectively punish all deposit holders regardless of balance."
Is this true? I feel like citation is needed for that statement. I thought the EU actually wanted to protect the minor deposit holders, as it has been the case all over Europe up until now.
- masklinn 14y agoIt's not true at all. All deposits under €100k are insured and protected.
- bitcartel 14y agoIt is true [1]. "Cyprus President Nicos Anastasiades says he is battling against eurozone demands that all bank customers pay a one-off levy in return for a bailout. Mr Anastasiades said he shared people's unhappiness with the terms, whereby all bank customers would pay a levy of 6.75% or 10% on their bank deposits. The EU and IMF have demanded the levy in return for a 10bn-euro ($13bn; £8.6bn) bank bailout." The key thing here is that the EU accepted the original proposal, they were okay with seeing deposits of less than €100k being hit, regardless of any deposit guarantee. Public fury resulted in the Cypriot Parliament rejecting the proposal and the EU back-peddling from the original terms. [1] http://www.bbc.co.uk/news/world-europe-21824495 http://www.bbc.co.uk/news/world-europe-21824495
- pbreit 14y agoThey EU might have been "ok" with it but not "happy" as you have suggested elsewhere. The president is obviously biased here.
- deleted 14y ago[deleted]