Σύμφωνα με την ανάλυση, η απόφαση επιβολής εισφοράς στις καταθέσεις κινείται μεν...
...προς τη σωστή κατεύθυνση αλλά με δυο σημαντικά λάθη που απειλούν να τινάξουν τα πάντα στον αέρα:
The first is that it involves deposits below the €100,000 amount guaranteed by deposit insurance. This was not necessary and can undermine the trust in deposit guarantee systems throughout Europe. A simple calculation: assuming that the total amount of deposits in Cyprus declined from €68bn in January to €65bn today, the announced tax rates and the amount of money to be collected (€5.8bn) imply that the amount of deposits below the €100,000 line is €20bn and the amount above the €100,000 line is €45bn. To protect deposits below €100,000 in full, the tax rate had to be 12.9% on the deposits above €100,000 in order to collect €5.8bn. This is a back of the envelope calculation, yet the difference between the decided 9.9% tax rate and this implied 12.9% tax rate is so small that I cannot find a justification for involving deposits below the guaranteed amount.
The second major drawback is the silence about senior bank bondholders. The Eurogroup statement only mentions the involvement of junior bondholders. Unfortunately, reliable information is not available on the number of bank creditors beyond the amount of bank deposits; latest reports suggest that there is not much there. Yet taxing small depositors, while exempting senior bondholders, is unjust.
Αναλυτικά εδώ.
