Banks on the Mediterranean island may never reopen, Germany warned after lawmakers late Tuesday turned down a $12.9 billion deal that would have seen Cypriots lose up to 10 per cent of their bank deposits.
Banks were ordered to remain closed after finance officials predicted a run on savings and a huge outflow of capital if they were to reopen.
Even before the deal was rejected, Cypriot Finance Minister Michalis Sarris was already in Moscow working on an alternative plan to extend loans by using the island’s natural resources as a guarantee, according to English-language Cyprus Mail newspaper.
Originally posted by gladtobehere
Look people of Cyprus.
You dont need any of this.
Bill Gates is now worth $67 billion.
Released today, Forbes' ranking of the richest people on the planet found Gates' fortune up $6 billion this year.
Germany's finance minister has warned Cyprus that its crisis-stricken banks may never be able to reopen
EU lawmakers agreed on Tuesday to allow the ECB to police euro zone banks,
Originally posted by sarahlm
Everyone should follow the Icelandic model.
We Icelandic people are tired of all these pro Iceland stories that are quite simply untrue. We are struggling, our nation was devastated, no bankers were jailed and most of these people responsible for running our nation into the ground are still doing great and getting back to business as it were.
Because I’m tired of you people spreading untruths
Since people continue to spread the factually dubious statement that Iceland “told creditors & IMF to go jump, nationalised banks, arrested the fraudsters, gave debt relief and is now growing very strongly, thanks” I find I have to write this here thing.
Originally posted by stargatetravels
As a lovely, elderly Cypriot lady said on the news yesterday, this is Germany waging another war.
... and because of Germany.