In Cyprus, Big Losses Expected On Deposits

International lenders have assumed the country’s economy would shrink 3 percent, but with the chaos of recent weeks it may shrink 5 to 10 percent.

Sections:  news   world   business   
RELATED ARTICLES
  • Spain education sector hit by strike against cuts
    Thousands of students and teachers staged a strike across Spain on Thursday to protest government austerity measures and a planned new education reforms. More
  • In Germany, a U.S. beer invasion
    Almost 65 years after Allied planes flew Western supplies into blockaded Berlin, a new American import is arriving by air: craft beer. The beer is being flown in as part of a new surge of German interest in American brewing, upending a centuries-old relationship in which German beer defined the golden standard for brewing and Americans emulated it. More
  • Cyprus parliament approves bailout
    Cyprus' lawmakers approved on Tuesday a multi-billion bailout agreement with international creditors aimed at preventing the crisis-hit country from going bankrupt. More
  • Baby food shortage in Europe due to China demand
    Yong-Hee Kim still can't believe that in a prosperous country like Germany, powdered baby formula would ever be rationed and that she would have to scour shops in the German capital to find the right brand for her 13-month-old son. More
  • Swedish police find drugs on Bieber tour bus
    The latest chapter in Justin Bieber's European tour escapade was added Thursday when Swedish police said they had found drugs and a stun gun on the pop singer's bus. Lars Bystrom, spokesman for the Stockholm police, told The Associated Press a small amount of drugs and a stun gun were discovered during a search of the bus, which had been parked under the Globen concert venue in Stockholm, where Bieber was performing Wednesday. More
BING NEWS:
  • Gloomy outlook at Real Madrid despite spending spree
    Madrid won only two of their seven pre-season games, shipping 18 goals and suffering three defeats including a humiliating 7-3 thrashing at the hands of local rivals Atletico Madrid and losses to ...
    08/15/2019 - 12:30 am | View Link
  • 2019 a difficult year for tourism but no need to panic, Deputy Minister says
    Deputy Minister for Tourism Savvas Perdios said that 2019 is a difficult year for tourism, but stressed that there is no need for panic, pointing out that positive developments may be expected in the ...
    08/11/2019 - 4:02 am | View Link
  • 2019 a difficult year for tourism but no need to panic, Deputy Minister says
    adding that positive developments may be expected in the coming weeks with regard to covering losses from flights that no longer operate to and from Cyprus. This year is more difficul, Perdios ...
    08/11/2019 - 1:58 am | View Link
  • Big depositors stand to lose more than expected in Cyprus bailout
    Under conditions expected to be announced Saturday ... could accelerate economic decline on the island and bring steeper job losses. Officials had previously spoken of a loss to big depositors of 30 ...
    03/30/2013 - 6:02 pm | View Link
  • Banks reopen in Cyprus for first time in nearly two weeks
    Savers with more 100,000 euros ($129,000) in either Bank of Cyprus and Laiki will face big losses. At Laiki, those could reach as much as 80 percent of amounts above the 100,000 insured limit; those ...
    03/28/2013 - 9:22 am | View Link
  • More
BING SEARCH:
  • Losses due to re-evaluation of property – In-Cyprus.com
    60,000 passengers expected to use Cyprus airports in busiest day this year ... losses of €5.7 million were recorded mainly due to the re-evaluation of real estate. ... Greece’s Pangaea a big ...
    08/22/2019 - 6:54 am | View Website
  • Between 350 and 1,220 job losses expected in Cyprus after ...
    The study also indicates that Cyprus’ total losses in the event of a hard Brexit could amount to a total of €167 million, ranking 8 th among European Union countries, whereas a potential deal would place the island at 12 th on the list of added losses. Greece is also expected to suffer heavily after Britain’s departure from the EU.
    08/17/2019 - 10:28 am | View Website
  • Between 350 and 1,220 job losses expected in Cyprus after ...
    Between 350 and 1,220 job losses expected in Cyprus after Brexit. Whatever your political persuasion, defend your corner here. All we ask is that you voice YOUR opinion, rather than just post a link to a half hour youtube video. Also, we want you to win your debate by the strength of your argument. Attacking your opponent weakens your argument.
    08/11/2019 - 11:49 pm | View Website
  • Last-minute Cyprus Deal to Close Bank, Force Losses ...
    Cyprus reached a last-ditch deal with international lenders on a 10 billion euro ($13 billion) rescue plan to avoid economic meltdown, agreeing to close down its second-largest bank and inflict heavy losses on big depositors.
    07/21/2019 - 7:39 am | View Website
  • Teachers' Unions Expected Big Membership Losses. Here's ...
    Teachers' Unions Expected Big Membership Losses. Here's Why Those Haven't Panned Out. United Teachers Los Angeles President Alex Caputo-Pearl, left, joined teachers at a rally in downtown Los ...
    06/27/2019 - 7:21 pm | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More News