Cyprus crisis: who will lose the most?

Cyprus crisis: who will lose the most?

According to the Moody's, Bank of Russia, conducting transactions with companies registered in Cyprus and the Russian-born Cypriot banks are at risk of 43-53 billion dollars.

Cypriot banks will not be opened on March 19 for customers. According to ITAR-TASS,the head of one of the branches of the cooperative credit bank, "our computer systems will definitely locked."

It is unknown how many days extended bank holidays as official communications about this. Monday 18 March at the Cyprus bank holiday, the country celebrated Christian "Clean Monday."

ATMs in Cyprus are operating normally. As reported by the representative of the Central Bank of Cyprus, Saturday and Sunday were interruptions in delivery of cash in ATMs. This is due to the unusual influx of people, who wanted to withdraw money after it became aware of a tax on deposits.

Only added fuel to the fire official announcement by the Government that are frozen for a few days all electronic banking transactions. In connection with a boom in many devices simply ran out of money. But on Monday morning, ATMs were replenished.

On Saturday, authorities announced that the bank will open on Tuesday. On the same day they planned to unlock the banking, while freezing taxes on all contributions that, by decision of the Eurogroup, should be removed as a condition of providing credit assistance republic.

In the second half of the day will be held an extraordinary session of parliament, where MPs must speak "for" or "against" this unprecedented action to enforce attract investors to finance assistance programs. The authorities have no confidence that lawmakers would support such a move.

President Nikos Anastasiadis will try to convince the deputies agreed with the lenders to support the anti-crisis program. According to him, it will be an alternative to uncontrolled bankruptcy of credit institutions, which will lead to a default on its obligations Cyprus.

But Speaker Yanakis Omirou, who heads the party Movement of Social Democrats, said: "In essence, we are being asked to legitimize the decision to rob investors, closing their eyes to all the written and unwritten laws. We refuse to do it. "

Vote on Tax Law deposits held in the Cyprus Parliament on Monday.

The news of the withdrawal of 10% of deposits in Cypriot banks caused panic among Russian businessmen.According to the Moody's, Bank of Russia, conducting transactions with companies registered in Cyprus and the Russian-born Cypriot banks are at risk of 43-53 billion dollars.

Ukraine also discuss this topic. Members of social networks reason, they say, will suffer from this decision our billionaires who keep their money in offshore Cyprus. But experts believe: serious business for this turn of events has long been prepared.

"Cypriot banks have not been known for its reliability. So the money our rich some years do not keep them, - said economist Alexander Okhrimenko. - Although, due to the fact that many of the operations are conducted through the country, it seems that all the finances are there. In fact, Ukrainian money stored in more stable countries - Austria, Germany, USA. And in Cyprus they spend in transit. "

According to experts, business leaders, who have deposits with Cyprus in the near future will be to transfer their accounts to other financial institutions in the world. But it is a big player, but ordinary Ukrainian citizens are advised not to worry.

"I do not think it will suffer from this decision Ukrainian citizens. The fact is that to open a bank account in Cyprus was very difficult - there is a very cumbersome process for residents of countries - EU - said Okhrimenko. - But there are many deposits of Europeans, that they generally can suffer. "