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View Diary: Bank Run in Cyprus, Will it Spread to Southern Europe? (322 comments)

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  •  Another update (3+ / 0-)
    Recommended by:
    shrike, 3goldens, nchristine

    http://www.reuters.com/...

    Cyprus was working on a last-minute proposal to soften the impact on smaller savers of a bank deposit levy after a parliamentary vote on the measure central to a bailout was postponed until Monday, a source said.
    The originally proposed levies on deposits are 9.9 percent for those exceeding 100,000 euros and 6.7 percent on anything below that.

    The Cypriot government was on Sunday discussing with lenders the possibility of changing the levy to 3.0 percent for deposits below 100,000 euros, and to 12.5 percent for above that sum, a source close to the consultations told Reuters on condition of anonymity.

    Others have simply gotten old. I prefer to think I've been tempered by time.

    by Just Bob on Sun Mar 17, 2013 at 03:05:25 PM PDT

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