Thread: Investors Watch As Cyprus Deadline Approaches

Cyprus clinches last-ditch bailout deal - World News

Impact on today's market?

Looks like... Yeah, a bailout! ... Oh, no! Another bailout!

Originally Posted by tsptalk

Looks like... Yeah, a bailout! ... Oh, no! Another bailout!

My concern was the failure of one of their two largest banks and what is essentially a seizure of accounts for all account holders there with over $ 100,000 Euros. Wasn't sure if the overall effect is positive or negative??

Very interesting as the details of the Cyprus deal are made public:

Q&A: Cyprus' bailout deal explained - CBS News


#1- Account holders with 100,000 Euros or less are basically unaffected. they keep their dough. They represent about HALF of all the money in Cyprus banks.

#2. Account holders of MORE than 100,000 euros- their accounts are temporarily frozen, and put into a bank specifically for this issue. Even though there are VERY FEW of them in number, they represent some 49 BILLION Euros of all deposits- holdings.