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Eurozone banks profited from timely deposit withdrawals

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Eurozone banks profited from timely deposit withdrawals

Postby Talisker » Sat Apr 13, 2013 1:38 pm

This is definitely worth reading if, like me, you are not an expert in international banking and finance but want to understand the wheelings and dealings that led to the current situation.
http://www.oftwominds.com/blogapr13/Cyprus-template4-13.html

Seems like the Eurozone banks made sure they got as much money out of Cyprus as possible before the President of Cyprus received his ultimatum from the Troika. Also interesting to note that none of the other depositors seemed to have any idea of the impending crisis - a little insider knowledge certainly seems to have been used by eurozone banks to safeguard their deposits after making a fortune from the disparity in interest rates between Cypriot banks and themselves in the preceding years....

•Black: Eurozone [German & French] Banks
•Red: Cyprus people and businesses
•Blue: Cyprus Banks
•Green: Banks outside the Eurozone
•Orange: Russian "Mobsters" & Brits
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Talisker
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