There may be trouble ahead...

[Baldy]

Banks to open 12:00 'til 6:00 

They listened to me ........   been suggesting that for 10 years......

 

[Barman]

Capital controls confirmed

And finally, a central bank official has announced tonight that capital controls will be imposed, but initially for just four days.

Reuters has the story:

    Cyprus will limit the use of cheques to businesses, cap cash withdrawals to 300 euros per day and scrutinise all commercial transactions over 5,000 euros when banks reopen on Thursday, a Central Bank official said.

    Yiangos Demetriou, head of internal audit at the Central Bank, said the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros ($6,400) per month abroad.

    He said the measures would remain in place for four days, contradicting an earlier report by the Athens newspaper Kathimerini that the controls would last seven days.

    "That doesn't mean it cannot be reviewed in the meantime depending on developments," Demetriou told the Cypriot state broadcaster.

    "The rationale is that these measures will be reviewed on a daily basis, so if there is the possibility of relaxing them we will," he said.

    The central bank says banks will reopen at midday (1000 GMT) on Thursday, ten days after they closed their doors on the orders of the government to avert a run on deposits as the island negotiated a bailout deal with the European Union and International Monetary Fund.

    Demetriou said the central bank would review all commercial transactions between 5,000 and 200,000 euros, and scrutinise any larger transactions on a case-by-case basis.

[Baldy]

Capital controls confirmed

And finally, a central bank official has announced tonight that capital controls will be imposed, but initially for just four days.

Reuters has the story:

    Cyprus will limit the use of cheques to businesses, cap cash withdrawals to 300 euros per day and scrutinise all commercial transactions over 5,000 euros when banks reopen on Thursday, a Central Bank official said.

    Yiangos Demetriou, head of internal audit at the Central Bank, said the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros ($6,400) per month abroad.

    He said the measures would remain in place for four days, contradicting an earlier report by the Athens newspaper Kathimerini that the controls would last seven days.

    "That doesn't mean it cannot be reviewed in the meantime depending on developments," Demetriou told the Cypriot state broadcaster.

    "The rationale is that these measures will be reviewed on a daily basis, so if there is the possibility of relaxing them we will," he said.

    The central bank says banks will reopen at midday (1000 GMT) on Thursday, ten days after they closed their doors on the orders of the government to avert a run on deposits as the island negotiated a bailout deal with the European Union and International Monetary Fund.

    Demetriou said the central bank would review all commercial transactions between 5,000 and 200,000 euros, and scrutinise any larger transactions on a case-by-case basis.

Two jobs starting next week and another one overlapping the week after. 

I might have to ask the ex-Mrs B to trim a bit off the money tree that she thinks exists at the bottom of the garden. 

[Barman]

Capital controls confirmed

And finally, a central bank official has announced tonight that capital controls will be imposed, but initially for just four days.

Reuters has the story:

    Cyprus will limit the use of cheques to businesses, cap cash withdrawals to 300 euros per day and scrutinise all commercial transactions over 5,000 euros when banks reopen on Thursday, a Central Bank official said.

    Yiangos Demetriou, head of internal audit at the Central Bank, said the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros ($6,400) per month abroad.

    He said the measures would remain in place for four days, contradicting an earlier report by the Athens newspaper Kathimerini that the controls would last seven days.

    "That doesn't mean it cannot be reviewed in the meantime depending on developments," Demetriou told the Cypriot state broadcaster.

    "The rationale is that these measures will be reviewed on a daily basis, so if there is the possibility of relaxing them we will," he said.

    The central bank says banks will reopen at midday (1000 GMT) on Thursday, ten days after they closed their doors on the orders of the government to avert a run on deposits as the island negotiated a bailout deal with the European Union and International Monetary Fund.

    Demetriou said the central bank would review all commercial transactions between 5,000 and 200,000 euros, and scrutinise any larger transactions on a case-by-case basis.

Two jobs starting next week and another one overlapping the week after. 

I might have to ask the ex-Mrs B to trim a bit off the money tree that she thinks exists at the bottom of the garden. 

It will only last four days... 

[Baldy]

Capital controls confirmed

And finally, a central bank official has announced tonight that capital controls will be imposed, but initially for just four days.

Reuters has the story:

    Cyprus will limit the use of cheques to businesses, cap cash withdrawals to 300 euros per day and scrutinise all commercial transactions over 5,000 euros when banks reopen on Thursday, a Central Bank official said.

    Yiangos Demetriou, head of internal audit at the Central Bank, said the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros ($6,400) per month abroad.

    He said the measures would remain in place for four days, contradicting an earlier report by the Athens newspaper Kathimerini that the controls would last seven days.

    "That doesn't mean it cannot be reviewed in the meantime depending on developments," Demetriou told the Cypriot state broadcaster.

    "The rationale is that these measures will be reviewed on a daily basis, so if there is the possibility of relaxing them we will," he said.

    The central bank says banks will reopen at midday (1000 GMT) on Thursday, ten days after they closed their doors on the orders of the government to avert a run on deposits as the island negotiated a bailout deal with the European Union and International Monetary Fund.

    Demetriou said the central bank would review all commercial transactions between 5,000 and 200,000 euros, and scrutinise any larger transactions on a case-by-case basis.

Two jobs starting next week and another one overlapping the week after. 

I might have to ask the ex-Mrs B to trim a bit off the money tree that she thinks exists at the bottom of the garden. 

It will only last four days... 

Oh.....That's alright then. 

I will be back to normal after a few days. 

[Barman]

Got to the bank about 1pm to see a small queue of people outside...



All very good natured...

There was a security guard letting people in two at a time - partly to save everybody overhearing their problems.

We couldn't get any cash - the Bank of Cyprus simply has no mechanism for transferring money from our 90-day account into our current account so that we can draw it from a cash machine. Previously we could take out €1,000 per day with no penalty.

Consequently, we have had to give three months notice on the account. They will then transfer €5,000 to our current account in June from which we can take €600 per day (€300 each). the remainder will return to a 30 day account which we will give notice on... etc.

Some harrowing stories outside the bank - an English guy is due to have an operation on his throat Saturday but they simply cannot withdraw the €1,000 deposit they need for it to go ahead.

A Greek guy we know is in the same position as us but has no cash on him at all and was considering flying out of the country to withdraw funds elsewhere.

And English couple with all their savings in the bank and still no information on the size of the haircut they are going to get...

[apc2010]

I am also fucked , got cheques ,I knew I could not cash them just deposit ...no problem ......BUT the BOC are only expecting BOC cheques , I have cheques from other banks ....so WTF do I do ........And no you cannot open new accounts at the moment ..thought of that ......

[Barman]

I am also fucked , got cheques ,I knew I could not cash them just deposit ...no problem ......BUT the BOC are only expecting BOC cheques , I have cheques from other banks ....so WTF do I do ........And no you cannot open new accounts at the moment ..thought of that ......

We had a Dollar account with a small amount in it (it came from the Google ads in here years ago). We closed that and transferred it to our current account (two days). We also had a couple of cheques (both BoC) which we paid in and we'll have the cash from those when they clear...

4 days? 

[Nick]

Got to the bank about 1pm to see a small queue of people outside...



All very good natured...

There was a security guard letting people in two at a time - partly to save everybody overhearing their problems.

We couldn't get any cash - the Bank of Cyprus simply has no mechanism for transferring money from our 90-day account into our current account so that we can draw it from a cash machine. Previously we could take out €1,000 per day with no penalty.

Consequently, we have had to give three months notice on the account. They will then transfer €5,000 to our current account in June from which we can take €600 per day (€300 each). the remainder will return to a 30 day account which we will give notice on... etc.

Some harrowing stories outside the bank - an English guy is due to have an operation on his throat Saturday but they simply cannot withdraw the €1,000 deposit they need for it to go ahead.

A Greek guy we know is in the same position as us but has no cash on him at all and was considering flying out of the country to withdraw funds elsewhere.

And English couple with all their savings in the bank and still no information on the size of the haircut they are going to get...

Do you want some cat recipes? 

[Barman]

Got to the bank about 1pm to see a small queue of people outside...



All very good natured...

There was a security guard letting people in two at a time - partly to save everybody overhearing their problems.

We couldn't get any cash - the Bank of Cyprus simply has no mechanism for transferring money from our 90-day account into our current account so that we can draw it from a cash machine. Previously we could take out €1,000 per day with no penalty.

Consequently, we have had to give three months notice on the account. They will then transfer €5,000 to our current account in June from which we can take €600 per day (€300 each). the remainder will return to a 30 day account which we will give notice on... etc.

Some harrowing stories outside the bank - an English guy is due to have an operation on his throat Saturday but they simply cannot withdraw the €1,000 deposit they need for it to go ahead.

A Greek guy we know is in the same position as us but has no cash on him at all and was considering flying out of the country to withdraw funds elsewhere.

And English couple with all their savings in the bank and still no information on the size of the haircut they are going to get...

Do you want some cat recipes? 

Too late for that... Buuurrrpppp! 

[apc2010]

Look on the bright side leccy goes down 9% next month......

[Barman]

Look on the bright side leccy goes down 9% next month......

[Marley's Ghost (Imbiber of Spirits)]

Look on the bright side leccy goes down 9% next month......

. . . and they've said this since the  struck?

'Cos if the haven't, it might just go up 20% instead . . . 

[Barman]

Look on the bright side leccy goes down 9% next month......

. . . and they've said this since the  struck?

'Cos if the haven't, it might just go up 20% instead . . . 

 

[apc2010]

Look on the bright side leccy goes down 9% next month......

. . . and they've said this since the  struck?

'Cos if the haven't, it might just go up 20% instead . . . 

If fairness there was a rebate b4 all this shite ........BUT you had to pay in cash in person at the office , so those who paid online /direct debit who save man hours etc lost out .........work that one out.........

Maybe they knew and wanted cash.......