Large depositors hit as Cyprus secures 10 billion euro bailout

PUBLISHED ON: March 25, 2013 | Duration: 50 min, 52 sec

   
loading..
Cyprus manages to secure a 10 billion euro bailout from the European Central Bank, the European Commission and the IMF, by agreeing to wind down its second-largest bank, Laiki, and shifting deposits below 100,000 euros to the Bank of Cyprus to create a "good bank". Experts, Sanjiv Shah, director of Sun Global Investments Limited; Stephen Pope, managing partner with Spotlight Ideas; Sampath Iyengar, managing principal at Iyengar Ventures (USA/India); Jay Shankar, independent economist and political strategist; Ranjan Dhawan, executive director at Bank of Baroda, and Patrick Foulis, India business & finance editor at The Economist, explain what precedent has this new bailout set for the European Union and what will be its impact on other peripheral countries in Europe.
ALSO WATCH
Quantitative Easing May Take Europe Out of Deflation: Robert Shiller

................................ Advertisement ................................

................................ Advertisement ................................