- Jan 22, 2011
Peter Brown, IIFT http://www.iift.ie/
Pearse Doherty, SF TD Donegal South-West Pearse Doherty - Wikipedia, the free encyclopedia
Sheila Killian, Lecturer, Accounting & Finance, University of Limerick Dr Sheila Killian | KBS
Karl Whelan, Economist, UCD Karl Whelan | Economist, University College Dublin
Cyprus struck a last-minute bailout deal, aimed at preventing it becoming the first country forced out of the euro.
* spares deposits below €100,000;
* Cyprus's second-largest bank, Laiki Bank, closes. Its €4.2bn in deposits over €100,000 to be placed in a "bad bank". Those with deposits less than €100,000 to see their accounts transferred to the Bank of Cyprus. All lenders to Laiki see their investments wiped out, in a first for a eurozone bailout;
* Bank of Cyprus survives, but faces huge restructuring. No bailout money to be used to recapitalise the bank - its shareholders and bondholders to be hit instead. It is thought those with over €100,000 at the bank face losses of around 30%. Getting the bank to healthy EU-mandated capital levels is made harder because Bank of Cyprus inherits a €9bn debt Laiki had with the ECB.
So what does #VINB’s panel think of it all. A good or a bad deal? Expect some very interesting comments tonight …
Cyprus to introduce 'temporary' capital controls - RTÉ News
BBC News - Cyprus bailout: Dijsselbloem remarks alarm markets
Cyprus secures last minute bailout deal, but at what cost? - Channel 4 News
Cyprus deal pulls markets back from brink - FT.com
Eamon O’Dwyer, Disability campaigner
Previous #VINB: http://www.politics.ie/forum/backstage/208156-vinb-sam-smyth-thur-21-3-2013-more-cyprus-mortgage-debts.html