Tag Archives: economic depression

Cypriot depositors to lose 60-75%

Savers at the Bank of Cyprus may be forced to accept losses on their deposits that exceed 60 percent in order to keep the stricken bank afloat. http://www.nytimes.com/2013/03/30/business/global/some-savers-in-cyprus-may-lose-60-percent.html?hp The more sizable haircut, coming soon after the imposition of tough capital controls, is the latest and perhaps most profound reminder of the financial punishment being visited […]