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March 30th, 2013 
FAKE NEWS for the Zionist agenda Officials said at least 37.5 percent of savings over 100,000 euros (USD 128,000) at Bank of Cyprus will turn into shares.
A further 22.5 percent will be held for two, three months until authorities make sure they can meet the conditions for the assistance package from the “troika” of the European Central Bank, the International Monetary Fund (IMF) and the European Union.
Mario Skandalis, a senior official at the bank, confirmed the figures, but said they yet had to be finalized and that a final announcement was expected by Monday.
Under the deal agreed in Brussels on March 25, Cyprus can only qualify for the 10-billion-euro (USD 13-billion) loan by raising 5.8 billion euros (USD 7.4 billion) of its own.
Bank of Cyprus is set to absorb healthy assets and insured deposits from the island’s second largest lender Laiki under the deal, while the rest of it will be wound up, leaving thousands laid off.
Thousands of Cypriots have been demonstrating in the capital to denounce their government, the EU and the IMF for their austerity plans.
MRS/SS
Source Article from http://www.presstv.ir/detail/2013/03/30/295842/bank-of-cyprus-savers-face-60-losses/
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