Quote:
Originally Posted by Damien
Where would they get the money from? The banks were about to go under?
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my understanding was that it was the government that needed the bailout from the EU ,the EU said yes you can have one but only if there is a levy on deposits held in Cypriot banks .What has been mentioned on news reports is that the cypriot banks where/are awash with money from Russian billionairs who used the banks to launder their money so i don't think the banks where skint or where would the levy on deposits come from