Tuesday 17 October 2017

Q&A: So just how safe is our money now?

Q So, disaster averted as Cyprus secured a bailout?

A: Yes, at last. After a tumultuous week for the Cypriot people and government (and indeed the eurozone) agreement was reached at the 11th hour in Brussels to grant a €10bn rescue package.

Under the deal the Cypriot banking sector will be significantly restructured, with the second largest bank wound down and deposits under €100,000 transferred to another bank.

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