Tags archives: depositors

Amid Cyprus Bailout - EU Official Says Other Depositors in Eurozone Will Be Raided If Necessary

Via The Telegraph - Jeroen Dijsselbloem, Dutch Chairman of the Eurozone announced yesterday that the raid on Cyprus bank accounts should be the template for future bank crises among the EU countries. The announcement sent panic amid markets in Italy and Spain. The two countries could very well need the next bailout as recession and heavy debt plague both countries. Like the Russians in Cyprus, British investors are at high risk should […]

Cyprus Strikes Bailout Deal With EU

In what has been deemed as a last minute deal, Cyprus leaders have reached an agreement with the European Union for a 10 billion euro bailout. Officials say the deal was reached after pressure mounted from a German-led bloc threatening to cease all temporary funding if a deal was not reached. With an economy largely based on banking, the bailout will consist of shutting down the country’s largest bank, The […]