Cyprus-Forum.com

[Cap]

[johnny1]

haha very good...if only it was for real.there must be more on that wanted list...3 is just for starters

[CBBB]

haha very good...if only it was for real.there must be more on that wanted list...3 is just for starters

Yes, there should be a village idiot there, but we will get to him later!

[supporttheunderdog]

British expats in Cyprus face eurozone raids on their savings - Telegraph
http://www.telegraph.co.uk/finance/financialcrisis/9953338/British-expats-in-Cyprus-face-eurozone-raids-on-their-savings.html

Three quarters of a million Britons living in Europe could see their savings raided to help save the European Union's single currency following the Cyprus debt crisis.

A senior eurozone figure on Monday suggested the plan to save Cyprus could serve as a template for rescuing other troubled EU states.
Under the terms of the Cyprus bailout, any savers with more than £85,000 deposited in either of the island’s two main banks - Laiki and the Bank of Cyprus - will lose between 40 and 100 per cent of their money.
In return for levying this ‘haircut' on deposits, Cyprus will receive the international funds necessary to keep its troubled banks afloat.
Jeroen Dijsselbloem, the Dutch chairman of the eurozone, suggested that this structure could become the model to be applied across Europe, where banks in Spain, Portugal and Italy are also in trouble.
“If there is a risk in a bank, our first question should be ‘Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?’,” he said.

well he is a bit behind the times: this what many commentators have been saying for over a week!

[eurobilltracker]

I'm so sad that always small countries have to be example's to bigger one.

Spain and Italy are laughing, they got their money "free"!

And Germany doesn't care (even they are talking something else)....

I love Euro notes but probably it is best to get back our old money asap!

[cyprusgrump]

Cyprus bailout: Banks to stay closed until Thursday

[Tim Drayton]

Cyprus bailout: Banks to stay closed until Thursday

Why can't they see that the longer they keep the banks shut, the worse it is going to get? At least they should lift the limit on ATM withdrawals based on post-haircut balances tomorrow - this will help to ease the inevitable load on the banks when they do open. The images of people queuing to get their money out on Thursday are going to be broadcast around the world, to the further detriment of Cyprus' image as a solid financial centre.

[cyprusgrump]

Cyprus bailout: Banks to stay closed until Thursday

Why can't they see that the longer they keep the banks shut, the worse it is going to get? At least they should lift the limit on ATM withdrawals based on post-haircut balances tomorrow - this will help to ease the inevitable load on the banks when they do open. The images of people queuing to get their money out on Thursday are going to be broadcast around the world, to the further detriment of Cyprus' image as a solid financial centre.

Chaotic isn't it...?

Why did they announce the banks (apart from the BoC & laiki) would be open today - it was obvious to everybody that it wasn't going to happen...

It may not happen Thursday either...

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...

[supporttheunderdog]

According to at last one highly speculative report the richer depositors got their money out by other routes.....

http://www.zerohedge.com/news/2013-03-25/have-russians-already-quietly-withdrawn-all-their-cash-cyprus

very little by way of fact in the report....

[sven]

NICOSIA - The Commissioner for the Cooperative societies has sent a circular to all coops with the restrictions that will apply when they reopen.
According to Stockwatch withdrawals will be limited to a maximum of €2,000 euros a day and as regards cheques they must be deposited and cleared.
As regards deposit accounts that expire, €2000 in cash will be handed over and the remainder in a cheque that can be cashed by the Central Cooperative Bank. Large sums over €20,000 will be cashed within two days,
Electronic transfers will continue as normal.
The commissioner has told coops that ATMs must be kept full and there will be a €400 daily limit on ATM withdrawals.
Internet banking is normal.
There is an immediate suspension of approved loans and no new loans will be issued, even if backed by deposits
These measures will come into force on Thursday unless the Central Bank says there can be an unlimited flow of money.