Go to the Globe and Mail homepage

Jump to main navigationJump to main content


Cyprus fallout: some EU deposits are more equal than others Add to ...

Subscribers Only

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day. Visit the ROB Insight homepage for analysis available only to subscribers.

Having scared the pants off Cypriot depositors and almost every other bank creditor in southern Europe, the troika are fumbling about looking for a palatable solution that won’t set off an avalanche of withdrawals from every bank in Cyprus when the tills are open again for business, if they ever re-open. The latest idea is to exempt smaller deposits, below €20,000 ($26,531), from the haircut, but it doesn’t really solve the fundamental problem – the EU has said loud and clear that not every euro zone deposit is equal. Some are more equal than others.

Report Typo/Error

Follow us on Twitter: @GlobeBusiness

Next story


In the know

The Globe Recommends


Most popular videos »


More from The Globe and Mail

Most popular