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Tuesday, March 19, 2013

The Cyprus Clusterfuck Continues

As the Cyprus clsuterfuck continues, and the country's "leaders" struggle to find a plan B, the mainstream media are still sticking to the line that the banks will re open this Thursday.

However, as I noted yesterday, the non official planned re opening is in fact Friday. That being said I note that next Monday is a genuine bank holiday in Cyprus (to celebrate Greek Independence Day), the Twittersphere is leaning towards the view that the banks will in fact remain closed until at least next Tuesday.

Other unconfirmed reports indicate that Cypriot MPs have been receiving calls from various Russian businessmen.

Meanwhile the people of Cyprus continue to withdraw cash from the ATMs.


  1. "Meanwhile the people of Cyprus continue to withdraw cash from the ATMs"

    Ken, most [news] reports say that all ATM's have been shut down to prevent withdrawals?

  2. Not according to the Central Bank of Cyprus

    ATMs are working as normal and the public can use them, a statement from the Central Bank said yesterday.

    Spokesperson for the Central Bank, Aliki Stylianou said that ATMs were refilled on Monday morning and that any problems that occurred were due to the fact that banks do not operate on the weekend adding that bank employees refilled them yesterday.

    Cash machines were emptied on Saturday by members of the public who panicked at the news in the morning that there was to be a haircut on deposits.

  3. Thanks, Ken. I guess there will be an awful lot of "refilling" going on for the next few days!