0 votes

Pain mounts for big depositors in two main Cyprus banks

AFP - Big depositors in Bank of Cyprus, the island's largest lender, anxiously awaited the outcome of last-ditch talks between the government and eurozone officials on Saturday on the scale of the hit they will take.

Savers in number two lender Popular Bank, or Laiki, already saw legislation passed on Saturday to hive off their deposits over 100,000 euros ($129,000) into a separate "bad bank" where their money will be tied up for years while non-performing loans are absorbed.


Trending on the Web