Tag Archives: Cyprus Popular Bank

Russian roulette or just a normal spinning wheel in Cyprus’ casino? The first officials statements referring to the haircut  big deposit holders at Cyprus Popular Bank would undergo spoke of 30%. Then it was 40%. Now it looks that depositors will lose 80% of their money. Croupier Michalis Sarris spun …

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Hours of tough negotiations between Cyprus and international lenders ended in a deal at 2 a.m. on Monday morning. President Nicos Anastasiades and the head of European Union, European central Bank and International Monetary Fund agreed to a hefty haircut for deposits above 100,000 euro at Bank of Cyprus and …

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Cypriot president Nicos Anastasiades threatens to resign over IMF proposals to rescue plan and let people decide, Cypriot media reported on Sunday evening short before the start of the Eurogroup meeting. Anastasiades threat came after the insistent pressure of the International Monetary Fund that the Bank of Cyprus should absorb …

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Greek Fincancial Stabilty Fund (HFSF) approved the bid of Piraeus bank to acquire the branches of Bank of Cyprus and Cyprus Popular Bank in Greece. “Piraeus bank will take over 12 billion euro in deposits,” Skai TV reported on Friday evening adding that the bank personnel will be transferred to …

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Hit by an unprecedented crisis, Cyprus Popular Bank (Laiki) announced on Thursday night, it imposes a daily cap of 260 euro per customer for withdrawals from ATM. This restrictions aims to facilitate the bank to come up with customers’ demands, it was said. Thousands of CPB queued at ATMs on …

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Angry protesters, mainly bank employees, spontaneously are gathering outside the Cypriot Parliament after the news Laiki (Cyprus Popular Bank -CPB) will close down. “In less than 10 minutes after the news, people took to the streets,” state broadcaster RIK reported. Police units rushed outside the Parliament, minor clashes took place …

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