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The Straight Story

(48,121 posts) Wed Mar 20, 2013, 06:06 AM Mar 2013

Cyprus banks 'may never reopen'

Germany's finance minister has warned that it is unclear whether the banks in Cyprus will ever be able to open again.

Banks in Cyprus have been shut since Saturday to avoid a run while the tiny Mediterranean country tries to negotiate a rescue for its economy.

Wolfgang Schaeuble said two of Cyprus's big banks are being propped up solely by emergency liquidity from the European Central Bank that is contingent on all sides agreeing on a rescue package.

"Someone needs to explain this to the Cypriots," Mr Schaeuble told German public television ZDF.

http://www.belfasttelegraph.co.uk/news/world-news/cyprus-banks-may-never-reopen-29141512.html

2 replies

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Cyprus banks 'may never reopen' (Original Post) The Straight Story Mar 2013 OP

"emergency liquidity" was due to end tomorrow dipsydoodle Mar 2013 #1

fuck germany. HiPointDem Mar 2013 #2

dipsydoodle

(42,239 posts)

1. "emergency liquidity" was due to end tomorrow

Reply to The Straight Story (Original post)

Wed Mar 20, 2013, 06:47 AM

Mar 2013

but has been extended "for the time being"

They were talking about going back to the Cyprus Pound last night but I'm beginning to wonder if they'll go for the Ruble instead.

HiPointDem

(20,729 posts)

2. fuck germany.

Reply to The Straight Story (Original post)

Wed Mar 20, 2013, 06:50 AM

Mar 2013

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