Western Europe: Cyprus - Bail-out - Cyprus' long shadow

The bank bail-out in Cyprus is small in comparison with the overall eurozone crisis, involving about EU10bn to re-capitalise the commercial and co-operative banks, plus sovereign support of about EU7bn. So the decision to bail-in insured bank deposits of under EU100,000 came as a surprise to the mar...

Full description

Saved in:
Bibliographic Details
Published in:The Banker 2013-04
Main Author: Marray, Michael
Format: Article
Language:English
Subjects:
Bailouts
Bank deposits
Banking industry
Bond ratings
Central banks
Commercial banks
Economic growth
Economic planning
European Monetary Union
Eurozone
GDP
Government bonds
Gross Domestic Product
International finance
Loans
Money laundering
Politics
Sustainability
Tax rates
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The bank bail-out in Cyprus is small in comparison with the overall eurozone crisis, involving about EU10bn to re-capitalise the commercial and co-operative banks, plus sovereign support of about EU7bn. So the decision to bail-in insured bank deposits of under EU100,000 came as a surprise to the markets, which had been working on the assumption the EU would not risk contagion to raise the comparatively small sum of EU5.8bn.
ISSN:0005-5395