Cypriot haircuts could leave large depositors with "crumbs"

Sky's Ed Conway:

Govt source: current expectation is Bank of Cyprus haircut to be implemented on Fri. So BoC may not reopen til then

— Ed Conway (@EdConwaySky) March 26, 2013

Cypriot Govt source: depositors in Laiki will, beyond €100k of savings, get "nothing more, or a few crumbs, in 5 years"

— Ed Conway (@EdConwaySky) March 26, 2013

There are suggestions that the deposit levy could hit foreign exchange traders who hold accounts for clients, many of which fall below the €100,000 threshold individually.