How can a country function with its banks closed for 10 days? Think about what it will be like when ATMs in our country aren’t functioning. On September 18, 2008 our banking system was being drained of cash. It will happen again.
Pictures From A Cyprus ATM Line
Submitted by Tyler Durden on 03/21/2013 10:20 -0400
For a few days, the people of Cyprus were calm, quietly and orderly accepting the unreality of the levy being imposed upon them – incredulous that it was even possible. As we reach the 4th day of bank closures, amid rolling rumors and ECB threats, it appears the people have reached a tipping point as this series of images from Cyprus ATM lines indicates – the bank-jog has arrived. When will it become a full blown sprint?
It appears the catalyst for this latest move is the ECB threat and EU concerns over the future of the two biggest insolvent banks: As AFP reports: EU calls on Cyprus to set capital controls and merge 2 biggest banks Laiki and Bank of Cyprus.
- *EU WANTS CYPRUS TO ADOPT MEASURES BEFORE BANKS RE-OPEN, ANSA
- *EU WANTS CYPRUS TO ADOPT MEASURES TO STOP DEPOSIT FLIGHT: ANSA
Via Sigma Live
Source: Twitter and Fred