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Lines Form as Cyprus
Banks Reopen

Wall Street Journal, by Joe Parkinson

Original Article

Posted By:pineledger, 3/28/2013 7:17:05 AM

Nicosia, Cyprus—-Lines formed outside banks in Cyprus´s capital early Thursday, but there was little sign of panic as the island´s lenders reopened after a two-week hiatus. Small groups of depositors—mainly numbering a few dozen, mostly pensioners—pressed to enter the banks as they formally reopened at noon (1000 GMT) local time. Police officers and security guards at Bank of Cyprus in Nicosia´s old town allowed eight depositors in at one time. (Snip)Some Cypriots said they would wait until the weekend to go to the bank, fearing that a rush might topple the very banks

Comments:
Do you have enough cash on hand to get you through two weeks? Wouldn´t be a bad idea.

Apparently withdrawals are limited to 300 Euros/day.

*with Matina Stevis and Nektari Stamouli

      


Post Reply  

Reply 1 - Posted by: lasvegaslou, 3/28/2013 9:28:52 AM     (No. 9247940)

Which do you prefer, confiscation or hyperinflation? The entire Western world is on the verge of financial collapse. Politicians have screwed things up royally in their insane and hopeless quest for equality, as in forcing worthless mortgages on financial institutions. Everything is too extended, too leveraged.

Default is coming. It´s just a question of what precipitates it. Will it be the American Stock Market bubble or the Euro collapse or something else? Personally, I think most of us would fare better with confiscation. Hyperinflation with it´s inevitable civil unrest is just too scarey.

By the way, I wonder if the MSM is still wondering why Romney keeps some of his money in offshore bank accounts.

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