It’s been upgraded to a Brazilian wax, apparently.

Sido writes:

“You recall the Cyprus haircut on bank deposits over  €100,000. Reading between the lines, there was some small print, a lot of people missed at the time. The actual haircut was 37.5% with a further 22.5% of deposits “reserved as a buffer”. Seemingly, the Trioka and the Cyprus Finance Ministry appear to be converging on a figure of 47.5%.  Zero Hedge, predicts the figure to rise to 60% at the end of the year, as the train hits the buffers.”

Ouch.

Cyprus 37.5% Depositor Haircut Upgraded To 47.5% Brazilian Wax (Tyler Durden, Zero Hedge)

Previously: The Slow Death Of The European Project

Cyprus, The Principal And Labour’s Principles

Pic: Komonews