The Cyprus bail-out, by the numbers

March 18, 2013
March 18, 2013

Cyprus’s bailout, which will hit up small depositors to help bail out the country’s banks, is being billed as either a sensible one-time approach to a dangerously large banking system swollen by deposits from Russian oligarchs, or a titanic policy mistake that risks setting off a spate of bank runs across Europe’s many troubled peripheral nations.

Total size of the deal: €10 billion

Bank levy on deposits over €100,000 ($130,860): 9.9%

Bank levy on deposits under €100,000: 6.75%

Amount the bank levies will raise: €5.8 billion

How much will likely be needed to recapitalize the Cypriot banking system as a whole: €10-12 billion [Barclays Research]

How much as a share of GDP: 60% [Barclays Research]

How does that compare to other bailouts: Ireland (40% of GDP), Greece (27% of GDP), Spain (6.5% of GDP) [Barclays Research]

Current size of the Cypriot banking system relative to national economy: 8 x GDP [Morgan Stanley]

What that looks like in a chart:

Screen Shot 2013-03-18 at 9.20.03 AM

Percentage of Cypriot deposits from nonresidents: 37% [Barclays]

Percentage from non-euro area countries: 30%

Cyprus’ share of euro zone GDP: 0.2% [AP]

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