Monday, April 1, 2013

Dennis Gartman on Cyprus depositors

They (bank depositors) knew for certain, however, that they were going to face massive losses when Mr. Averof Neofytou, the deputy president of the ruling Disy Party, said that those large depositors “will have to wait for many years before they see what percentage they will get back from their savings – 30 percent, 40 percent, 50 percent, 60 percent, it will be seen….”