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Half of Cypriots do not know the limit for insured deposits despite the fact that Cyprus suffered a haircut of deposits over €100,000 as part of its bailout plan in 2013, a survey showed. The fining which has been described as a paradox emerged in the context of a survey carried out by the Central Bank of Cyprus over financial literacy. Furthermore, the survey’s findings show that financial literacy is weaker in the age group of 18-29 years, where responses received the …
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