Its a little unclear from the article, but... Did they say that if you had 95,000 Euros in the bank, the account was safe. But, if you had 105,000 Euros in the account, you lost everything?
Your first 100,000 euros is proected, the amount above that is subject to confiscation.
At 105k euros, a 40% haircut is 2k euros.
Thanks!
So, when does Russia declare war? or just make a real good threat.
Tha should be good for the Cypress economy
Your math is way off. 105,000 * 0.4 = 42,000 (recall that 50% is half and 40 percent is slightly less than half).