Big Cypriot Bank Depositors could Lose 40%

Published March 26, 2013

| Reuters

Cyprus's Finance Minister Michael Sarris said on Tuesday big depositors in Cypriot banks could lose about 40 percent of their deposits as part of a 10-billion euro international rescue plan.

"It could be in that neighborhood but I do not want to anticipate it," Sarris told BBC radio, adding the exact figure was yet to be decided. "But what I have seen suggests a number in that neighborhood."

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http://www.foxbusiness.com/news/2013/03/26/losses-for-big-cypriot-bank-depositors-could-be-around-40-percent-minister/