Cyprus: Outflow of Billions of Euros Presumed

Politics ♦ Published: March 26, 2013; 19:28 ♦ (Vindobona)

Investors in Cyprus could face haircuts up to 50 %. Parliamentary President, Omirou want to go into details about the alleged transfer of assets despite of the banks closing.

Cyprus: Outflow of Billions of Euros Presumed / Picture: © Bank of Cyprus

Investors with a high amount of money could be facing losses up to 50 % of their assets. In an interview with the BBC earlier today, Cyprus’ Finance Minister Michaelis Sarris announced the compulsory toll could range from 30 % to 50 % and called this a realistic figure. The percentage of the levy on assets above the amount of € 100,000 has been increasing steadily from around 7 % to…

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