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
Cyprus–Denmark relations between Cyprus and Denmark on 27 April 1963. In May 1981, Cyprus and Denmark signed a tax treaty. Cypriot President Glafcos Clerides visited Denmark in June 2002, to hold talks on Cyprus' EU accession, the Cyprus dispute and the bilateral relations between Cyprus and Denmark. In August 2006, Danish Prime Minister Anders Fogh Rasmussen visited the United Nations Buffer Zone in Cyprus. Cyprus–Denmark relations Cyprus–Denmark relations refers to the current and historical relations between Cyprus and Denmark. Cyprus has an embassy in Copenhagen. Denmark has an embassy in Nicosia. Diplomatic relations were established on 2 November 1960. Both countries are