Main content

The Bank That Brought Down Cyprus

Simon Cox finds out from employees and executives at the now defunct Laiki Bank how billions handed out in bad loans created a financial time-bomb.

The entire economy of Cyprus has been brought to its knees with millions of euros of bank deposits wiped out of existence. How did it come to this? The Russians have been blamed for using the island as a tax haven and damaging relations with the EU. But the real problem with the system was much closer to home. Simon Cox finds out from employees and executives at the now defunct Laiki Bank how billions handed out in bad loans created a financial time-bomb that has destroyed a nation鈥檚 hopes.

Produced by Lucy Proctor.

(Image of a demonstrator holding up a sign reading in Greek: 'shame' during a demonstration in the Cypriot capital, Nicosia. Credit AFP/Getty Images)

Available now

25 minutes

Last on

Sat 6 Apr 2013 18:05GMT

Broadcasts

  • Thu 4 Apr 2013 08:05GMT
  • Thu 4 Apr 2013 14:32GMT
  • Thu 4 Apr 2013 19:05GMT
  • Thu 4 Apr 2013 23:32GMT
  • Fri 5 Apr 2013 03:32GMT
  • Sat 6 Apr 2013 18:05GMT

Download this programme

Subscribe to this programme or download individual episodes