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According to this http://wealthcycles.com/features/cypress-bailout-deal-is-pilot-program-for-bank-deposit-confiscation http://wealthcycles.com/features/cypress-
by thyrsus 13y ago
According to this http://wealthcycles.com/features/cypress-bailout-deal-is-pilot-program-for-bank-deposit-confiscation http://wealthcycles.com/features/cypress-bailout-deal-is-pil... deposits under 100,000 euros were exempt, with a 40% forfeiture of amounts over 100,000. There were other proposals, but that appears to have been the actual outcome.
- aj12345 13y agoSo in other words, insured deposits were paid out fully and uninsured deposits got a big haircut. Sounds like the correct outcome to me.