Cyprus would seek EU bailout money 'if necessary -> bbc.co.uk/news/business-18318252
Laiki Bank is Cyprus’ Anglo with 49% of it’s loan book written to Greece. But it’s even worse because Laiki is one of the top two retail banks in the country, not a second tier player like Anglo was here.
The deadline for the Cypriot bank bailout/recap is 30 June 2012. Cyprus would prefer that the bailout money comes from Russia rather than from the IMF/Europe.
Highly informative article in the FT on the situation in Cyprus …
AP: Cyprus Popular Bank: Cyprus Will seek ‘EU’ Bailout
As fungus says above, they have a 10% Corpo Tax in Cyprus as well. (For now.)
Reuters: Cyprus bailout could come soon
Ollie Rehn has also just said that a Cyprus bailout is now “extremely urgent”. Cypriot banks must be on the edge. Bailout 5 here we come.
**FT: Cyprus May Look for bailout for Sovereign and Banks. **
Surely the Greeks are a side show now - Italy/Spain are the real issue.
A more in depth recounting of the Popular (Laiki) Bank debacle. It all sounds depressingly familiar.
Cypriots close to sealing €5bn loan from Moscow -> hat4uk.wordpress.com/2012/06/21/ … ther-cuba/
Fitch said bailout 2 (Russia gave bailout I) for Cyprus would be 4 billion, now it might be 10 billion …
FT: Cyprus Bailout May be as much as 10 Billion EUR
Thats the first estimate. If Cyprus is like all the other bailout countries, You can double this.
800000 people, they might give us a run for our money on biggest bailout per capita.
Troika Finds Cyprus economy worse than expected
Good call. Estimates now well above 10 billion EUR.
Bloomberg: Cyprus May Need More Bailout Cash For Banks, Public Finances