Reactions to latest reports that Bank of Cyprus big savers could lose up to 60 per cent

(30 Mar 2013) SHOTLIST 1. Wide pan of news stand 2. Close-up of man reading newspaper 3. SOUNDBITE: (Greek) Vox pop, Frangkiskos Hadjifrangkiskos, Cypriot pensioner: "The consequences of this haircut will create a vicious cycle, and the standard of living of Cypriots will change, and will affect, in a general way, the Cypriot financial industry and our standard of living." 4. Wide tilt down of newspapers 5. Various of newspapers headlines reading (Greek) "From 37.5 per cent to 60 per cent" 6. SOUNDBITE: (Greek) Vox pop, Giorgio Narambides, Painter and decorator: "As we can see, this problem will go on for a long time as the haircut will certainly be over 50 per cent and from then on we will see how things develop for the country." 7. Men talking 8. Newspaper on table STORYLINE Cypriots in the capital Nicosia on Saturday reacted to news that a Cypriot Central Bank official and a senior Finance Ministry technocrat said that Bank of Cyprus savers with over 100,000 euros (128,225 US dollars) could suffer losses of up to 60 per cent. The officials, who spoke on condition of anonymity because they're not authorised to publicly discuss details of the issue, said that deposits over 100,000 (128,225 US dollars) euros at the country's largest lender will lose 37.5 per cent of their value after being converted into bank shares. They said they could lose up to 22.5 per cent more, depending on an assessment by officials who will determine the exact figure aimed at restoring the troubled bank back to health. Cypriots woke to newspaper headlines reading "From 37.5 per cent to 60 per cent". Reacting to the news, Nicosia pensioner Frangkiskos Hadjifrangkiskos said it would "create a vicious cycle, and the standard of living of Cypriots will change and will affect in a general way the Cypriot financial industry and our standard of living." Painter and decorator Giorgio Narambides thought the dire situation "will go on for a long time". Cyprus agreed last Monday to make depositors contribute to a financial rescue in order to secure 10 billion euros (12.9 billion US dollars) in loans from the eurozone and the IMF (International Monetary Fund). Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/b0b8001aa36195fe52a9f571a6345e18

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