NICOSIA, Cyprus (AP) — Depositors at bailed-out Cyprus’ largest bank will lose 47.5% of their savings exceeding 100,000 euros ($132,000), the government said Monday.
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Tag Archives: Cyprus
Neil Macdonald: Canada’s ‘Cyprus solution’ for bank defaults
Buried deep in last month’s federal budget is an ambiguously worded section that has roiled parts of the financial world but has so far been largely ignored by the mainstream media.
It boils down to this: Ottawa is contemplating the possibility of a Canadian bank failure — and the same sort of pitiless prescription that was just imposed in Cyprus.
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ROGERS: DEPOSITORS GLOBALLY ‘RUN FOR THE HILLS’
“Please, you better hurry. I’m doing it anyway” Rogers tells CNBC.
“I want to make sure that I don’t get trapped.”
“What more do you need to know?”
Cyprus was “a warning shot to bank to depositors around the world.”
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Turchansky: Fund manager upbeat on Canada’s economy, sees Cyprus as a non-event
EDMONTON – Sandy McIntyre, co-chief executive with Sentry Investments, paints a rosy picture of our economy and says investors should be ready to take advantage of it.
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4 reasons tiny Cyprus matters to Canadians
It’s easy to dismiss events in Cyprus as yet another hiccup in the never-ending series of European debt crises from which Canada has managed to stay insulated. But despite Cyprus’s tiny size, events there are worth paying attention to for troubling reasons we haven’t seen before:
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