The Cyprus Stock Market Has Lost 98% Of Its Value In The Last 5 Years

Why did Cyprus have to make a grab for depositor cash to rescue its banks?

In part because there just wasn’t anymoney left anyhwere.

The banks don’t have much debt, and the island’s equity has been wiped out.

The Cypress Stock Exchange (whose components include banks, hotels, utilities, and retailers) is off about 98% in the last 5 years. Just a total complete wipeout.

Big hat tip to  Alex Tarhini at All-Star Charts for pointing this out.

Cyprus stock exchange

Photo: Bloomberg

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.