I am a Cypriot and I work in the treasury department of a bank.

I can say that I am satisfied by the business case of the company and the answers given by Danny on the questions of the "balance sheet expert".

As for the 100K guarantee to all bank accounts, all Cypriots (and I will guess all Europeans by now) know that this is a fallacy. The whole GDP of Cyprus/Europe is not enough to "guarantee" the deposits below 100K in Cyprus/Europe.

All accounts both above and below 100K are frozen. You cannot access your "money". You have pieces of paper stating that you have XXX in your account but this is a fallacy, a psychological trick. The money simply isn't there.

All accounts both above and below 100K are frozen and compulsorily converted to deposit accounts with only 20% being made available; and out this you can withdraw only 300 euros per day, export max 3k per month or issue cheques max 15k per month.