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Cyprus News Agency: News in English, 13-02-12
CONTENTS
[01] Cyprus Central Bank: Legal rights of depositors not to be affected
[02] Government agrees that Cyprus poses a systemic risk for the Eurozone
[01] Cyprus Central Bank: Legal rights of depositors not to be affected
The Central Bank of Cyprus has clarified that legal rights of depositors
in the Cypriot Banks will not be affected, either by imposing restrictions
on withdrawals or transfers or otherwise.
The bank was commenting on a publication of the Financial Times,
according to which "a radical new option for the financial rescue of
Cyprus would force losses on uninsured depositors in Cypriot banks,
as well as investors in the country's sovereign bonds, according to a
confidential memorandum prepared ahead of Monday's meeting of eurozone
finance ministers".
"There is no issue of affecting the legal rights of depositors, either
by imposing restrictions on withdrawals or transfers or otherwise,"
Spokeswoman of Central Bank Aliki Stylianou told CNA.
[02] Government agrees that Cyprus poses a systemic risk for the Eurozone
Cyprus is a country that poses a systemic risk for the Eurozone and this
is something we have pointed out, Government Spokesman Stephanos Stephanou
has said, invited to comment on statements made by Jorg Asmussen, Member
of the Executive Board of the European Central Bank.
In an interview with German business daily "Handelsblatt" published on
Monday, Asmussen noted that if Cyprus gets no external help, it will
slide into default. He also warned that failing to help a systemically
relevant euro zone country would "put at risk progress made last year on
the euro crisis - and that would have high financial and political costs".
Speaking to the press following a meeting of the Cabinet, Stephanou said
that "despite the size of the country and its economy, a member of the
Eurozone is a systematically relevant euro zone country and this is how it
should be approached by the EU and the Eurozone as well as their members".
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