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And so it begins, the head of the Eurogroup of Eurozone finance ministers is now saying the Cyprus deal could be a template for any future bailouts. http://www.bbc.co.uk/news/business-21920574
Laiki bank cards stop working.... Outrageous, the poxy bank won't even be open until Thursday....
Quote from: Barman on March 25, 2013, 08:48:34 PMLaiki bank cards stop working.... Outrageous, the poxy bank won't even be open until Thursday....If then
Finance minister Michalis Sarris has warned that the country faces an "unprecedented experience", as he outlines new restrictions on the country's banking sector.Speaking on Radio 4 in the last few minutes, Sarris confirmed that capital controls will being imposed on Cyprus "for several weeks", restricting the flow of money around the system:
Getting Bank of Cyprus open by Thurs will be a monumental task. And the man in charge of its resolution was only appointed last night...
From Reuters:While ordinary Cypriots queued at ATM machines to withdraw a few hundred euros as credit card transactions stopped, other depositors used an array of techniques to access their money. No one knows exactly how much money has left Cyprus' banks, or where it has gone. The two banks at the centre of the crisis - Cyprus Popular Bank, also known as Laiki, and Bank of Cyprus - have units in London which remained open throughout the week and placed no limits on withdrawals. Bank of Cyprus also owns 80 percent of Russia's Uniastrum Bank, which put no restrictions on withdrawals in Russia. Russians were among Cypriot banks' largest depositors.
The Russian munny may have gone already ... QuoteFrom Reuters:While ordinary Cypriots queued at ATM machines to withdraw a few hundred euros as credit card transactions stopped, other depositors used an array of techniques to access their money. No one knows exactly how much money has left Cyprus' banks, or where it has gone. The two banks at the centre of the crisis - Cyprus Popular Bank, also known as Laiki, and Bank of Cyprus - have units in London which remained open throughout the week and placed no limits on withdrawals. Bank of Cyprus also owns 80 percent of Russia's Uniastrum Bank, which put no restrictions on withdrawals in Russia. Russians were among Cypriot banks' largest depositors.
Quote from: Pastis on March 26, 2013, 10:02:58 AMThe Russian munny may have gone already ... QuoteFrom Reuters:While ordinary Cypriots queued at ATM machines to withdraw a few hundred euros as credit card transactions stopped, other depositors used an array of techniques to access their money. No one knows exactly how much money has left Cyprus' banks, or where it has gone. The two banks at the centre of the crisis - Cyprus Popular Bank, also known as Laiki, and Bank of Cyprus - have units in London which remained open throughout the week and placed no limits on withdrawals. Bank of Cyprus also owns 80 percent of Russia's Uniastrum Bank, which put no restrictions on withdrawals in Russia. Russians were among Cypriot banks' largest depositors.. . . which all goes to show that the €urotwats couldn't organise a piss up in a brewery!
