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bank of cyprus News

132 companies, elites transferred cash out of Cyprus, named

Nicosia - It appears that politicos, elites and favored companies may have had advance inside information pertaining to Cypriot bank deposit haircuts. The names of 132 companies and elites who transferred funds out prior to bank closures have been released.

Clients of Bank of Cyprus could lose up to 60% of their savings

Nicosia - Depositors with more than 100,000 euros in their Bank of Cyprus accounts could now possibly lose up to 60% of their savings.

Cyprus: All banks to remain closed but cash still exits country

All banks in Cyprus are to remain closed for a further two days, until Thursday, creating more problems as most businesses are now refusing all but cash transactions. Despite capital controls cash is still escaping the island.

Op-Ed: Killing Cyprus, natural gas, crime and unmitigated stupidity

Sydney - You get tired of writing about nothing but human stupidity after a while. The Cyprus case, however, is exceptional in its sheer bastardry. A bailout with no specifics, a policy with no objectives and less economic planning, you name it, it’s all there.

Cyprus bailout deal agreed with eurozone ministers

Brussels - A Cypriot exit from the euro was averted in the early hours of the morning when details of the bailout agreed between Cyprus and the troika were approved by the eurozone finance ministers.

Cyprus/Troika agree to 20% tax on deposits of over 100,000 euros

Nicosia - Following negotiations between Cyprus and the Troika, a 20% tax is to be taken from deposits of 100,000 euros and more held in the Bank of Cyprus, and 4% on deposits over 100,000 euros held at other banks. (Video update.)

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