Brussels, 03/09/2013 (Agence Europe) - The raiding of uninsured bank accounts (those with more than €100,000) in the two biggest Cypriot banks, Bank of Cyprus (BoC) and Laiki, has brought small business on the island to its knees.
As part of the restructuring of the country's banks, all uninsured bank deposits in the now disbanded Laiki and 46.5% of uninsured BoC deposits have been converted into bank shares.
A draft report by the European Commission and the European Central Bank after...