Many Greeks are being affected by Cyprus’ economic crisis after putting their money into Cypriot banks as international lenders are demanding the government confiscate up to 9.9 percent of their money to help bail out the government and their own banks.
Companies, businesses, individuals and families, many rom Patras, are watching the developments in fear of losing even more of the money they have in Cyprus. The amount of Greeks’ deposits in Cyprus is estimated to be more than $15 million.
One example is the case of a well-known resident of Patras, who had served as a manager in a branch of a public bank in Patras The amount that he, his wife and other members of his family transferred and deposited in Cyprus during the period of the austerity in Greece, exceeded $5 million, media reports said.
According to Patrastimes.gr, another entrepreneur is also in difficult situation due to his deposits in Cyprus. He is involved with refrigerator trade and has transferred all his money in Cyprus banks. The amount is said to be 800,000 euros, or about $1.035 million. Others with money in Cyprus include four engineers, who had deposited a lot of money in island banks as the construction sector there was doing well and Greece’s was not.
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