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George Liu
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I am the Chief Financial/Economics Columnist of The Daily Political Review, a Monitored Contributor for FOREXPROS, a Seeking Alpha Certified Contributor, as well as a paid blogger for The Motley Fool Blog Network. I also currently serve on the Board of Directors for Ureka Co. Currently, I am... More
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  • Cyprus Talks Continue Late Into Sunday Night 0 comments
    Mar 24, 2013 7:50 PM | about stocks: FXE, EUO, EUFX, ULE

    Main sticking point: assumption of liabilities after the split-up of Laiki. Germany and the IMF vs. Cyprus in its meeting with the troika; Eurogroup meeting afterwards. It's going to be a long night but most likely a positive one, as the overall draft of the bailout seems to be agreed upon. The draft also includes a significant levy of about 20% on deposits above 100,000 euros at Laiki and a 4% levy on accounts of above the same level at other banks.

    Also, Cyprus imposes €100 per day limit on ATM withdrawals and Turkey is complaining about Cyprus's natural resources.

    Stocks: FXE, EUO, EUFX, ULE
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