Skip to navigationSkip to content

The Cyprus bail-out, by the numbers

A child and protest banner in Cyprus
AP Photo/Petros Karadjias
Future depositors are worried too.
By Matt Phillips
Published Last updated This article is more than 2 years old.

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:

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

Percentage from non-euro area countries: 30%

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

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.