[Cowperson]

Originally Posted by chemgear

http://business.financialpost.com/20...-bailout-plan/

Euro-area finance chiefs, pressuring Cyprus to shrink its banking system as the condition for a bailout, are reviving demands they jettisoned last week as too extreme, four European officials said.

Insured deposits — below the European Union ceiling of 100,000 euros ($129,000) — would go into a so-called good bank and not sustain any losses, while uninsured deposits would go into the bad bank and be frozen until assets could be sold, said the four officials.

Losses to unsecured creditors, including uninsured depositors, could reach 40% under the plan, which has support from the International Monetary Fund and the European Central Bank.

As far as the meaning of secured and unsecured goes, that is fair and not too abnormal. Markets would like that better.

Cowperson