Cypriots and Greeks of America support Cyprus in crisis

Cypriots and Greeks of America support Cyprus in crisis

 

Cypriots and Greeks residing in the US are mobilizing with a view to assisting Cyprus to recover from the economic difficulties it is facing.

On Μarch 25 Eurozone Finance Ministers, known as the Eurogroup, decided on a €10 billion bailout for Cyprus coupled by a bail-in by uninsured depositors. The decision provided that Cyprus` second largest lender, the Cyprus Popular Bank, will be wound down, whereas Bank of Cyprus` uninsured deposits will take losses up to 60%.