What will happen if Greece goes bankruptcy with Cyprus bank?

[clemens]

Hi,


I was just wondering what will happen if Greece goes bankrupt with the bank's in Cyprus?


We are holding a substantial amount of money with Piraeus (above 200k EUR) so I have a reason to be worried I think :S -confused:

 

[JohnLocke]

Bank of Piraeus Cyprus is a subsidiary of Bank of Piraeus Greece – not a branch. It is regulated by Central Bank of Cyprus and in the unlike event that bank of Piraeus Greece goes bankrupt, bank of Piraeus cyprus will not be affected. As a local company, it has its own capital adequacy as per Central bank of Cyprus regulations.


This is applicable for all banks in Cyprus!

 

[Rahul shetty]

200k Euro.That is big amount. I would rather spread Into several banks instead of relying on one.

 

[Aliza beth]

greece and cyprus. What is the relation between these two. I think they are seperated and have there own terms and conditions, rules and regulation everything is seperated