Sunday Mail newspaper

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INSIGHT

POPULISM’S TEARS

INSIDE

The IMF’s internal views on Cyprus’ bailout

From surplus to crisis through the eyes of the CBC’s former governor

TV and lifestyle supplements to see you through the week

Pages 4-5

Pages 20-21

www.cyprus-mail.com

May 26, 2013

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COFFEESHOP: DODGY DINNERS AND TURKISH FISH... IT’S A GAS PAGE 17 INSIDE Cyprus Dog shelters swamped with dumped pets 6

World ‘Toughest’ US sheriff reined in by judges 9

Lifestyle Footballers tackle intellectual pursuits centre

Property Aussie garden bags best in show at Chelsea 24

Sport All eyes are back on Nadal ahead of Paris Open back

Bank customers must be vigilant BoC admits mistakes have been made after toddler and baby group given deposit haircut By Peter Stevenson

T

HE BANK of Cyprus (BoC) is urging people to be vigilant when it comes to checking bank statements after it was discovered that due to a systems error, a number of customers, including a babies and toddlers group, had been wrongly subjected to a haircut on their deposits. According to a BoC spokesman, the bank is aware that mistakes have been made and are attempting to fix them. “Certain companies were listed wrongly within our system and when the order was given to cut deposits they were unfortunately included,” he said. “We are aware of the problem and we are working to rectify it,” he added. The spokesman said that if a customer notices their account has been erroneously debited then they should contact their local branch manager who should be able to fix the problem. “Our customers should feel at ease that mistakes can be rectified, as long as they are actual mistakes,” he concluded. Currently, 60 per cent of the uninsured part of BoC deposits - the 37.5 per cent already subjected to a haircut, plus another 22.5 per cent - is susceptible to a conversion into equity. The remaining 40 per cent

of uninsured BoC deposits is for the time being not subject to such conversion but 30 per cent of it remains frozen. Mother of two, 36-yearold, Angie Eliades who runs St. Paul’s Babies and Toddlers playgroup was shocked when she was informed that the group’s account, which contained a grand total of €960 had been given a haircut. “I handed over a cheque of €252 at the end of April to pay for rent and was told on Monday that it had bounced,” she said. Eliades visited her BoC branch to find out why the cheque had bounced even though there should have been sufficient funds in the account. “The assistant manger, whose English wasn’t great, told me that we were liable to receive a haircut and that there was nothing we could do about it as it was happening across the island,” she said. Eliades explained that the group charges €4 per every two-hour session so they can cover rent, food and drinks for the children, new toys and a cleaner. “The group is run by volunteer mums who dedicate their time to keep the playgroup running,” she added. “The group which has been running for more than 20 years is open to everyone but would have

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Dutch basejumper Ronald Overdijk jumps from the Trianon skyscraper in Frankfurt am Main, Germany yesterday during the Frankfurt Skyscraper festival. The event, which runs from May 25 to 26 includes fireworks, bungee jumping, wall walking, SWAT teams landing by helicopter on the Deutsche Bank building and rappelling down the sides, dinner hanging from a crane, and hot air balloons (EPA)


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