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As Cyprus Delays Reopening Banks Again, Here Are The Longest Bank Closures Ever

Posted By admin On March 26, 2013 @ 5:34 am In Money Watch | Comments Disabled

Zero Hedge [1]
March 26, 2013

With news this evening that the Cypriot banks will not now be re-opening tomorrow (as perhaps - as we noted earlier [2] – a little more of those precious deposits leaked away during the closures than expected):


We thought it useful to consider Cyprus in relation to the longest bank closures in history. Cyprus has now shutdown its banking system longer than Argentina, Ecuador, and Uruguay and as far as President Anastasiades comments that capital controls are temporary – we can only hope for the depositors sake – that it’s not as temporary as Argentina’s 120 month ‘restrictions’ starting in 2001.

As Cyprus Delays Reopening Banks Again, Here Are The Longest Bank Closures Ever 20130325 close 0 [3]

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URL to article: http://www.prisonplanet.com/as-cyprus-delays-reopening-banks-again-here-are-the-longest-bank-closures-ever.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-03-25/cyprus-delays-reopening-banks-again-here-are-longest-bank-closures-ever

[2] as we noted earlier: http://www.zerohedge.com/news/2013-03-25/have-russians-already-quietly-withdrawn-all-their-cash-cyprus

[3] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/03/20130325_close.jpg

[4] Meanwhile, Cash Exodus From Cyprus Surges Despite Bank Closures, Capital Controls: http://www.prisonplanet.com/meanwhile-cash-exodus-from-cyprus-surges-despite-bank-closures-capital-controls.html

[5] Cyprus crisis: limits on bank withdrawals to last ‘about a month’: http://www.prisonplanet.com/cyprus-crisis-limits-on-bank-withdrawals-to-last-about-a-month.html

[6] Cypriots panic as rumours swirl of more bank closures after €10bn bailout: http://www.prisonplanet.com/cypriots-panic-as-rumours-swirl-of-more-bank-closures-after-e10bn-bailout.html

[7] Cyprus Banks Close Until Thursday to Prevent Bank Run: http://www.prisonplanet.com/cyprus-banks-close-until-thursday-to-prevent-bank-run.html

[8] Cyprus Bank Deposits Plunge By Most Ever During “Capital Controls” Month: http://www.prisonplanet.com/cyprus-bank-deposits-plunge-by-most-ever-during-capital-controls-month.html

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