Open Europe Blog

Archives for deposits

This is the question which is now holding global financial markets on the edge – could it really happen and what would it mean, we assess the possible scenarios below.Could the Cypriot parliament vote against the levy? According to Reuters, Cypriot go…

Posted by Open Europe blog team

Analysts – led by Anglo-Saxon ones – have lined up to say that, following the deposit levy as part of the Cypriot bailout, a bank run on the rest of the Mediterranean is now a near certainty. New York Times columnist Paul Krugman went the furthest, arg…

Posted by Open Europe blog team

Update 12:00 18/03/13:Russian Finance Minister Anton Siluanov has had some interesting things to say on the deposit levy (via Reuters): “We had an agreement with colleagues from the euro zone that we’ll coordinate our actions.” “It turns out that the e…

Posted by Open Europe blog team

Well, we said it was going to have an impact well beyond its size (0.2% of Eurozone GDP).Overnight, the Eurozone and Cyprus took the unprecedented step of announcing a tax on depositors in order to raise the necessary funds to recapitalise Cypriot bank…

Posted by Open Europe blog team