Getting your Trinity Audio player ready...
NICOSIA, May 9 (Reuters) – Cyprus’ central bank said on
Thursday most of the depositors who lost money at bailed-out
Bank of Cyprus were from overseas and that Cypriots had
not been hit as hard as might have been expected.
“Seventy percent of the value of deposits concerned overseas
residents, leaving Cypriot households and businesses unaffected
to a greater extent than was possibly expected,” Central Bank of
Cyprus Governor Panicos Demetriades told a news conference.
He said overall 96 percent of deposits in Cyprus were
unaffected by losses on larger accounts required by the euro
zone in exchange for aid to the overly indebted country.
