- Prison Planet.com - http://www.prisonplanet.com -
Cyprus Banks Close Until Thursday to Prevent Bank Run
Posted By yihan On March 18, 2013 @ 11:59 am In Featured Stories,Tile | Comments Disabled
BBC News 
March 18, 2013
The Cypriot central bank has announced that the country’s banks will stay closed until later this week as fears mount of a bank run.
The country’s banks were closed for a scheduled Bank Holiday on Monday, something that allowed Cyprus to try to implement a levy on savers’ deposits.
That move triggered unease among depositors in Cyprus, where cash machines soon ran out of funds.
It had earlier unnerved investors, sending shares and the euro lower.
The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10bn euros ($13bn; £8.6bn).
Full story here. 
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/cyprus-banks-close-until-thursday-to-prevent-bank-run.html
URLs in this post:
 BBC News: http://www.bbc.co.uk/news/business-21823432
 As Cyprus Delays Reopening Banks Again, Here Are The Longest Bank Closures Ever: http://www.prisonplanet.com/as-cyprus-delays-reopening-banks-again-here-are-the-longest-bank-closures-ever.html
 MoD flies emergency cash to Cyprus for British personnel: http://www.prisonplanet.com/mod-flies-emergency-cash-to-cyprus-for-british-personnel.html
 Cyprus considers zero tax on smaller bank deposits: http://www.prisonplanet.com/cyprus-considers-zero-tax-on-smaller-bank-deposits.html
 Time Is Running Out In Cyprus: http://www.prisonplanet.com/time-is-running-out-in-cyprus.html
 Bank of Cyprus depositors could lose up to 60% of their savings: http://www.prisonplanet.com/bank-of-cyprus-depositors-could-lose-up-to-60-of-their-savings.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.