Large depositors at Bank of Cyprus - the island's biggest - could lose up to 40% of their...

|By:, SA News Editor

Large depositors at Bank of Cyprus - the island's biggest - could lose up to 40% of their deposits, according to the country's central bank chief, while those at Popular Bank (#2 in size) might lose 80%. The government meanwhile preps capital controls to contain what would otherwise be a flood of money exiting the country when the banks reopen.