The central bank of Cyprus has finalised the terms of the fleecing that Bank of Cyprus depositors holding more than 100,000 euros must suffer as part of an international bailout deal. These are that 37.5% of holdings above 100,000 euros will become bank shares, a further 22.5% will go into a ‘fund’ attracting no interest and may be used for …
Cyprus gets bailed out
People in Cyprus have reacted with utter shock after learning of a one-off levy of up to 10% on savings as part of a €10 billion bailout agreed in Brussels. Queues formed outside savings banks and ATM’s as people desperately tried to withdraw their money, although it had already been arranged that savers could withdraw all their funds EXCEPT for …
It pays to read the whole article sometimes
Reading an article on a couple arrested for being in possession of fake euro notes in Cyprus, the statement Miss Wilson, a teacher, told today how the couple had no idea the notes – which had been obtained by Mr Redden’s grandmother for them from a post office – were fakes. So, the Post Office handed out the notes then. …