» agile » tokyo » financial » reviews » Cyprus » bank-deposit » levy » bruises » Europe » stocks
agile tokyo financial reviews <br />LONDON (MarketWatch) — European stock markets staged broad-based losses on Monday, after a bailout proposal for Cyprus, including a controversial levy on bank deposits, stoked fears that other struggling countries would follow the same path. <br />The Stoxx Europe 600 index (XX:SXXP) lost 0.2% to close at 296.81. <br />The losses mirrored a weak trading day in Asia along with softness for U.S. stocks, on the back of 10 billion euro ($12.9 billion) deal to bail out Cyprus announced over the weekend. <br />U.S. stocks open sharply lower on Cyprus deposit tax. <br />The bailout agreement came with an unprecedented levy on bank deposits, with depositors with more than €100,000 euros taxed at 9.9%, while those with less at 6.75%, marking the first time in the euro-zone crisis that depositors will lose money and raising fears such measures could spread to other struggling euro-zone nations. Here’s why markets are in an uproar over Cyprus deposit tax <br />A vote on the bailout was reportedly pushed back a day, as President Nicos Anastasiades, who has been in parliamentary meetings in Nicosia, reportedly wants the terms of the deal amended. <br /><br />“Should depositors in Cyprus or other peripheral countries feel safe now? They may not. After all, deposit-guarantee schemes do not guarantee against a levy. Depositors may also have to factor in that the one-off levy could inspire national governments to do the same thing. So the risk of bank runs has just gone up,” analysts at Danske Bank said in a note. <br />ATMs in Cyprus were reportedly already running out of cash over the weekend, as depositors tried to avoid the tax. <br />CONTINUE READING: <br />http://articles.marketwatch.com/2013-03-18/markets/37794902_1_european-stock-president-nicos-anastasiades-cyprus <br /><br />RELATED ARTICLE: <br />https://getsatisfaction.com/agilefinancial/topics/tokyo_agile_financial_reviews_bank_of_japan_emergency_meeting <br />https://www.zotero.org/groups/news_agile_financial_tokyo/items/itemKey/QIDDKKCA
agile tokyo financial reviews <br />LONDON (MarketWatch) — European stock markets staged broad-based losses on Monday, after a bailout proposal for Cyprus, including a controversial levy on bank deposits, stoked fears that other struggling countries would follow the same path. <br />The Stoxx Europe 600 index (XX:SXXP) lost 0.2% to close at 296.81. <br />The losses mirrored a weak trading day in Asia along with softness for U.S. stocks, on the back of 10 billion euro ($12.9 billion) deal to bail out Cyprus announced over the weekend. <br />U.S. stocks open sharply lower on Cyprus deposit tax. <br />The bailout agreement came with an unprecedented levy on bank deposits, with depositors with more than €100,000 euros taxed at 9.9%, while those with less at 6.75%, marking the first time in the euro-zone crisis that depositors will lose money and raising fears such measures could spread to other struggling euro-zone nations. Here’s why markets are in an uproar over Cyprus deposit tax <br />A vote on the bailout was reportedly pushed back a day, as President Nicos Anastasiades, who has been in parliamentary meetings in Nicosia, reportedly wants the terms of the deal amended. <br /><br />“Should depositors in Cyprus or other peripheral countries feel safe now? They may not. After all, deposit-guarantee schemes do not guarantee against a levy. Depositors may also have to factor in that the one-off levy could inspire national governments to do the same thing. So the risk of bank runs has just gone up,” analysts at Danske Bank said in a note. <br />ATMs in Cyprus were reportedly already running out of cash over the weekend, as depositors tried to avoid the tax. <br />CONTINUE READING: <br />http://articles.marketwatch.com/2013-03-18/markets/37794902_1_european-stock-president-nicos-anastasiades-cyprus <br /><br />RELATED ARTICLE: <br />https://getsatisfaction.com/agilefinancial/topics/tokyo_agile_financial_reviews_bank_of_japan_emergency_meeting <br />https://www.zotero.org/groups/news_agile_financial_tokyo/items/itemKey/QIDDKKCA
