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Big Cypriot Bank Depositors Could Lose 40%: Minister

A Bank of Cyprus branch in Nicosia, Cyprus
Bloomberg/Contributor | Bloomberg | Getty Images
A Bank of Cyprus branch in Nicosia, Cyprus

Cyprus's Finance Minister Michael Sarris said on Tuesday big depositors in Cypriot banks could lose about 40 percent of their deposits as part of a 10-billion euro international rescue plan.

"It could be in that neighborhood but I do not want to anticipate it," Sarris told BBC radio, adding the exact figure was yet to be decided. "But what I have seen suggests a number in that neighborhood."

Contact Europe: Economy

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