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In the Cyprus crisis overhaul of the banks required depositors with over $100,000 in bank accounts to take a 50% haircut. Deposits less than $100,000 were safe. Greek banks will need ECB funding or European creditors to recapitalize the banks before banks can open because cash at banks is dropping below 1 billion euros just before the referendum of July 5, 2015.
Grouped Articles
Wall Street Journal 07.04.2015
Collapse of Greek Bailout Deal Brings Surprise Boost to German Coffers
Wall Street Journal 07.04.2015
IMF Warns Eurozone That Greece Needs Far More Debt Relief
Wall Street Journal 07.15.2015
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