Monday, March 25, 2013

Crushing the whale depositors

Zero Hedge tries to make sense of the latest Cyprus bank deal.
"Deposits below the EU deposit-guarantee ceiling of 100,000 euros will be protected, and a loss of no more than 40 percent will be imposed on uninsured depositors at the Bank of Cyprus, two EU officials said. Uninsured depositors at Cyprus Popular would largely be wiped out, two other officials said."
How will the big depositors take this news? That's the story of this week.
UPDATE: Part of Pat's Monday roundup.

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