Owners of large deposits of Cyprus will lose 8.3 billion Euros
Baku, April 17 (AZERTAC). Owners of large deposits in two leading banks in Cyprus are expected to lose a total of 8.3 billion Euros in the implementation of anti-crisis plan developed by the Eurogroup.
This is stated in the document prepared by the European Commission, said today the Cypriot Channel "Sigma". Under large deposits refers to the amount of the contributions of more than 100 thousand Euros, are considered uninsured by the European legislation.
"Rescue / bail-in / by uninsured deposits in Cyprus national bank / Laiki bank / Bank of Cyprus and / Bank of Cyprus /, evaluation, will give 8.3 billion Euros to recapitalize the bank," said a European Commission document dated April 12 and marked "final."In a footnote to the document states that it is - "the highest possible rating." "The final amount will depend, in particular, from the conversion of debt into equity of the Bank of Cyprus and the absorption of the Cyprus national bank", - said the EC.
According to the final text of the document, the financial needs of Cyprus reached between the second quarter of 2013 to the first quarter 2016 of EUR 23 billion, of which 13 billion republic should seek from domestic sources. 8.3 billion of this amount appears to have on large uninsured deposits in Cyprus Halyk Bank and Bank of Cyprus.
On Monday, the international rating agency "Moody's" / Moody's / made assessments that Cyprus will continue to be at risk of bankruptcy and exit from the eurozone, despite the agreement with the Eurogroup for assistance of 10 billion Euros in exchange for the restructuring of the two leading banks and crisis response. According to the agency, in order to make debt sustainable and Cyprus was viable, the country will need additional financial aid or the restructuring of existing debt, and, "therefore, the risk of default on a loan and the possibility of leaving the euro zone."
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