As Americans have found out (too late), fair share means more. You never have a definitive percentage of “fair share” as Cypriot depositors are now seeing. In a new “deal”, the banks will steal take 50% of the deposits over 100,000 Euros. If this percentage goes higher, they may reach the tax burden imposed on the producers in the United States.
David DeGerolamo
Cyprus, lenders set Bank of Cyprus bail-in at 47.5 percent, sources say
Cyprus and its international lenders have agreed to convert 47.5 percent of deposits exceeding 100,000 euros in Bank of Cyprus to equity to recapitalize it, banking sources said on Sunday.
