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NewsFeeder
03-24-2013, 05:00 PM
Investors Watch As Cyprus Deadline Approaches



http://us.rd.yahoo.com/finance/external/mfool/rss/SIG=135ms4246/*http://www.fool.com/investing/general/2013/03/24/investors-watch-as-cyprus-deadline-approaches.aspx?source=eptyholnk303100&logvisit=y&npu=y
Scout333
03-24-2013, 09:50 PM
Cyprus clinches last-ditch bailout deal - World News (http://worldnews.nbcnews.com/_news/2013/03/24/17445609-cyprus-clinches-last-ditch-bailout-deal?lite&ocid=msnhp&pos=1)

Impact on today's market?
tsptalk
03-25-2013, 09:41 AM
Looks like... Yeah, a bailout! ... Oh, no! Another bailout! :)
Scout333
03-25-2013, 10:02 AM
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??:confused:
James48843
03-25-2013, 12:54 PM
Very interesting as the details of the Cyprus deal are made public:

Q&A: Cyprus' bailout deal explained - CBS News (http://www.cbsnews.com/8301-505123_162-57576110/q-a-cyprus-bailout-deal-explained/)


#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.