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OFFICIALS at the Central Bank will work through the weekend to come-up with a final percentage for the levy on uninsured deposits of over €100,000 at Bank of Cyprus, it was reported yesterday.An announcement is expected tomorrow. The decision is dependant on calculations regarding the offset of loans against deposits according to head of internal audit at the Central Bank, Yiangos Demetriou. He expressed the belief that once measures were put in place it would breathe life back into the market and to trading.Most reports suggest depositors with over €100,000 with the bank will take a hit of 60 per cent. ... 3 comments
How the world viewed the deal that will finally lead to Cyprus’ bailout “We got what we always wanted, a bail-in that shrinks the over-sized banking sector in Cyprus”German Finance Minister Wolfgang Schaeuble “I am confident that the programme will work, but let's be honest. At this moment, we cannot say exactly what the impact is going to be”European Commission President Jose Manuel Barroso “They gave me strength during last night’s difficult struggle, to get the best possible result for Cyprus”President Nicos Anastasiades on Twitter thanking the people of Cyprus for their messages of solidarity ... 2 comments