Quote:
Originally Posted by Osem
I dare say quite a lot of people around the EU will now be looking for alternative homes for their cash investments.
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At least they protected savings under €100,000, theoretically you could just make sure you never have over that amount with any one institution. Probably a wise precaution anyway because you're always at risk of the bank collapsing as would have happened here, today maybe, had a deal not been reached.
Cyprus is in for a difficult time ahead. Their offshore banking industry which accounted for so much of their economy has been killed off.