Saturday, April 6, 2013

Key data missing at troubled Bank of Cyprus - inquiry

Some key data about bond purchases by Bank of Cyprus - now the focus of a controversial EU-IMF bailout - is missing, investigators have found.

The gaps were found in computer records studied by a financial consultancy, Alvarez and Marsal, Cypriot media say.

Bank of Cyprus - the island's biggest bank - bought Greek bonds which turned into some 1.9bn euros (£1.6bn; $2.4bn) of losses in the Greek debt crisis.
 

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