coolbeans Posted March 20, 2013 Report Share Posted March 20, 2013 Cyprus banks may never open again "Germany's finance minister has warned Cyprus that its crisis-stricken banks may never be able to reopen if it rejects the terms of a bailout." "There may have been jubilation among many Cypriots at Tuesday night's parliamentary defeat of the hated banking tax, but now the country faces a tough reality." http://www.cyprusexpat.co.uk/blog/read/id:3160/germany-warns-cyprus-that-banks-may-never-open-again#.UUlGyCptSNU.twitter 1 Link to comment Share on other sites More sharing options...
coolbeans Posted March 20, 2013 Author Report Share Posted March 20, 2013 Cyprus Banks To Reopen Next Tuesday At Earliest As Capital Controls Become Reality We can only hope that nobody will be shocked that the greatly overhyped Friday Cyprus bank reopen has been postponed. CYPRUS BANKS EXPECTED TO REMAIN CLOSED THROUGH END OF WEEK:CYBCAnd since March 25, Monday, is another Cyprus bank holiday, "Greek Independence Day" (from whom? Certainly not the Troika), it means Cypriot banks will now remain closed at least until next Tuesday and likely far longer. In the meantime, since TV cameras can't show lines of people at their freindly neighborhood bank, which will have been closed for over a week, the propaganda machine will blast full bore how because the market is pushed higher by the Fed, any fears of bank runs can be forgotten. Actually instead of "can", replace with "must." But since banks have to reopen at some time, at which point the inevitable bank runs will become reality, the already discussed Plan B is now taking shape: CYPRUS CABINET TO DISCUSS DECREE ON CAPITAL CONTROLS: CYBCIt remains to be seen if a country can't have a bank run in the New Centrally-Planned and Despotic Normal, if there is simply a law saying it is now illegal to pull or transfer more than €100 of cash per day. http://www.zerohedge.com/news/2013-03-20/cyprus-banks-reopen-next-tuesday-earliest-capital-controls-become-reality Link to comment Share on other sites More sharing options...
sandyf Posted March 21, 2013 Report Share Posted March 21, 2013 Branches of UK banks in Cyprus have never closed. 1 Link to comment Share on other sites More sharing options...
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