MAIL ONLINE: Bank insider and government technocrat anonymously reveal latest plan / Deposits over 100,000 euros will lose 37.5% of their value / Savers then stand to lose a further 22.5% depending on an assessment / Cypriot banks refusing to release UK pension payments to expat Britons / President of Cyprus says there is 'no intention' of leaving the eurozone
Savers with over 100,000 euros deposited in the Bank of Cyprus could now be hit for losses of up to 60 per cent, according to a central bank official and a senior finance ministry technocrat.
The officials, who spoke on condition of anonymity because they're not authorized to publicly discuss details of the issue, said deposits over 100,000 euros at the country's largest lender will lose 37.5 percent of their value after being converted into bank shares.
They said that savers could then lose up to 22.5 per cent more, depending on an assessment by officials who will determine the exact figure aimed at restoring the troubled bank back to health. » | Daniel Miller | Saturday, March 30, 2013
