The BBC's Paul Mason: "Every figure in this document has the word 'euro' and two x's"

Cyprus finance ministers are planning to impose a weekly limit on cash withdrawals, the BBC has learned.

The country's draft capital controls include export limits on euros and a ban on cashing cheques, says Newsnight economics editor Paul Mason.

In addition, fixed-term deposits will have to be held until maturity.

Cyprus's finance minister earlier confirmed that depositors with more than 100,000 euros could see 40% of their funds converted into bank shares.

But Michalis Sarris also said that Cypriot depositors with less than 100,000 euros in their accounts "will not be hit".

"The exact percentage is not... yet decided but it is going to be significant," he told the BBC.


 

Cyprus to bring in weekly cash curbs

BBC News ‎-

Cyprus's finance ministers are planning weekly cash withdrawal limits and other capital controls, as big depositors face 40% cuts in their funds

Tags: 40%, Cyprus's, and, are, as, big, capital, cash, controls, cuts, More…depositors, face, finance, funds, in, limits, ministers, other, planning, their, weekly, withdrawal

Views: 171

Reply to This

VeryBarryCare

"24 or more hours of member activity http://12160.info/m"

Report an Issue



Photos

Loading…
  • Add Photos
  • View All

Forum

SEO: The weakness of Ning

Started by Not mainstreamer in 12.160 Multimedia Empire. Last reply by Not mainstreamer 50 minutes ago. 36 Replies

Pot Kills?

Started by Site *ADMINS* in Current News/Events. Last reply by Nikki 5 hours ago. 5 Replies

Ohio couple married 70 years die 15 hours apart

Started by Site *ADMINS* in Current News/Events. Last reply by James μολὼν λαβέ 8 hours ago. 1 Reply

Badge

Loading…

© 2014   Created by James μολὼν λαβέ.

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2014 - all rights reserved. unless otherwise noted