Singapore Expats Forum

The Cyprus Bailout crisis

Discuss about any latest news or current affairs in Singapore or globally. Please DO NOT copy and paste news articles from other sources without written permission.
User avatar
Mi Amigo
Manager
Manager
Posts: 1767
Joined: Sat, 19 Jun 2004
Location: Kinto Pino

Postby Mi Amigo » Sun, 07 Apr 2013 5:37 am

Interesting programme from the BBC World Service:

Assignment - The Bank That Brought Down Cyprus

The entire economy of Cyprus has been brought to its knees with millions of euros of bank deposits wiped out of existence. How did it come to this? The Russians have been blamed for using the island as a tax haven and damaging relations with the EU. But the real problem with the system was much closer to home. Simon Cox finds out from employees and executives at the now defunct Laiki Bank how billions handed out in bad loans created a financial time-bomb that has destroyed a nation’s hopes.
Be careful what you wish for

offshoreoildude
Manager
Manager
Posts: 1582
Joined: Wed, 04 Jul 2012

Postby offshoreoildude » Wed, 10 Apr 2013 3:40 pm

Slovenia's banks are $9BN in the hole over bad debts.... their next for a hair cut.
Now I'm called PNGMK

User avatar
Wd40
Director
Director
Posts: 3788
Joined: Tue, 04 Dec 2012
Location: SIndiapore

Postby Wd40 » Wed, 10 Apr 2013 7:54 pm

Nice article about Russians in Cyprus

http://www.irishtimes.com/news/world/eu ... -1.1355116


  • Similar Topics
    Replies
    Views
    Last post
  • 29/M from Cyprus just arrived
    by vls.rulez » Mon, 30 Mar 2015 5:51 pm » in 20's Club
    3
    1786
    by KGS_aus View the latest post
    Sat, 04 Apr 2015 9:13 am
  • The causes of the current EU migrant crisis.
    by JR8 » Sat, 19 Sep 2015 10:03 pm » in Strictly Speaking
    23
    5667
    by x9200 View the latest post
    Wed, 13 Jan 2016 9:13 am

Return to “Latest News & Current Affairs”

Who is online

Users browsing this forum: No registered users and 1 guest