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Angela Merkel thinks she's on holiday ...

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German Chancellor Angela Merkel walks in the thermal baths of Sant'Angelo d'Ischia, southern Italy. Photo: Marco Cantile / AP

German Chancellor Angela Merkel walks in the thermal baths of Sant'Angelo d'Ischia, southern Italy. Photo: Marco Cantile / AP

German Chancellor Angela Merkel walks in the thermal baths of Sant'Angelo d'Ischia, southern Italy. Photo: Marco Cantile / AP

GERMANS are famous for arriving first to the pool, or so the joke goes – and it seems their leader is keen to keep that tradition going.

German Chancellor Angela Merkel was photographed making the most of a trip to the southern Italian island of Ischia this weekend.

Sporting a black swimsuit, Europe's most powerful leader took some time out to paddle around a pool at the Aphrodite thermal baths.

And given that she once described Ireland as a "shining example" of how countries can emerge stronger from the economic crisis, is it any wonder she's wearing a green dressing gown?

 

Dip

And let's hope she's not having thoughts of a double dip recession throughout Europe.

The politician was accompanied by her husband Joachim Sauer as they took a quick dip during their Easter break.

Whatever about Italy's troubles, it's unlikely that she'd receive anything but a frosty reception in Cyprus.

As Frau Merkel was taking her dip, it was revealed that large depositors at Cyprus's biggest bank may be forced to accept losses of up to 60pc.

That's far more than initially feared under the European rescue package to save the country from bankruptcy.

Those with deposits of more than €100,000 at the Bank of Cyprus would lose 37.5pc, which would be converted into bank shares, according to a finance ministry decree.

In a second raid on these accounts, depositors could also lose up to 22.5pc more, depending on what experts determine is needed to prop up the bank's reserves.

Deposits that are converted to bank shares would theoretically allow depositors to eventually recover their losses.

hnews@herald.ie


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