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Europe Daily Bulletin No. 10980

10 December 2013
ECONOMY - FINANCE - BUSINESS / (ae) cyprus
Nicosia warns of dangers of bail-ins

Brussels, 09/12/2013 (Agence Europe) - Cypriot Finance Minister Harris Georgiades warned on Monday 9 December about the risk of using bank bail-ins without detailed preparation in advance, to raid the accounts of shareholders, lenders and some individuals to bail out banks before any public money is forthcoming.

At a press conference on the fringes of the Eurogroup meeting, Georgiades said that the bail-in used in Cyprus, the first of its type, had not been without side effects. The bail-in...

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