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
Low-value consignment relief jobs (110 in the UK, 50 in Jersey and 20 in Guernsey). The move was blamed on changes to LVCR affecting the Channel Islands. In August 2013, Huelin-Renouf, which had operated a "lift-on lift-off" container service for 80 years between the Port of Southampton and the Port of Jersey, ceased trading, although the business was later taken up by a market entrant, Channel Island Lines. Low-value consignment relief When goods are imported into a European Union country from a non-EU territory, goods may be subject to customs duty, excise duty and value-added tax. Value-added tax is an EU tax adopted