Economic Adjustment Programme for Cyprus be saved and transferred to Bank of Cyprus (BoC), while shareholder capital would be written off, and the uninsured deposits above €100,000 – along with other creditor claims – would be lost to the degree being decided by how much the receivership subsequently can recover from liquidation of the remaining bad assets. As an extra safety measure, uninsured deposits above €100,000 in BoC will also remain frozen until a recapitalisation has been implemented "(with a possible imposed haircut if this is later deemed needed to reach the requirement for a 9% tier 1 capital ratio)". The targeted closure of Laiki
History of nationality in Cyprus political, and economic link to this significant geopolitical region. Furthermore, Cyprus is headquarters to many multinational firms. It is thus its location, accessibility to educated managerial and technical staff, combines with its excellent transportation, communication, and legal networks that serve an asset to the EU. The EU is a firm supporter of UN efforts to achieve peaceful settlement of the region, and at its meeting in Dublin in June 1990 they issued a declaration stating ‘the European Council, concerned about the situation, fully affirms its support for the unity, independence, sovereignty and territorial integrity of Cyprus in accordance with relevant