Cyprus banks to re-open under tight security after 12-day lockdown

Cyprus banks to re-open under tight security

An armed police officer guards several container lorries arriving at the country's Central Bank in Nicosia, Cyprus, on Wednesday

Armed police were on guard as container lorries presumably carrying cash arrived at the Central Bank on Wednesday evening
 
Security is tight in Cyprus as banks prepare to reopen nearly two weeks after closing while a controversial bailout was negotiated.

Armed police were on guard as lorries said to be loaded with cash arrived at the central bank on Wednesday night.

Demonstrators took to the streets to protest against the bailout plan and strict capital controls.
The restrictions on the free movement of capital represent a profound breach of an EU principle, correspondents say.

Cyprus is the first eurozone member country to bring in capital controls.
Customers will be limited to withdrawing 300 euros ($383; £253) a day, to prevent everyone fleeing with their savings.

Depositors with over 100,000 euros will also see their savings taxed in exchange for bank shares as Cyprus seeks to raise 5.8bn euros to qualify for a 10bn-euro bailout from the European Union, European Central Bank and the International Monetary Fund, the so-called troika.

An earlier plan to tax small depositors was vetoed by the Cypriot parliament last week.
Run fears
 
Correspondents say some fear a stampede as banks in Cyprus reopen between noon and 18:00 local time (10:00-16:00 GMT), nearly two weeks after they closed and progressively stricter limits were placed on withdrawals at cash machines.

Armed police are on guard and hundreds of staff from the private security firm G4S will be guarding bank branches and helping to transport money, said the AP news agency.



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

Severe new rules have been imposed on money movements to prevent a torrent of money leaving the island and credit institutions collapsing.

As well as the 300-euro daily withdrawal limit, Cypriots may not cash cheques. They can spend up to 5,000 euros on debit and credit cards.

Payments of over 200,000 euros require prior approval by a specially established committee - only the Cypriot government and its Central Bank are excluded.

There is a cap of 5,000 euros on transactions with other countries and travellers leaving the country will only be allowed to take 1,000 euros with them.

MORE
http://www.bbc.co.uk/news/business-21963462

Views: 187

Reply to This

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega commented on Doc Vega's blog post Government Issued Wearables? What’s Wrong With this Picture?
"cheeki kea Ha! Good one!"
yesterday
tjdavis posted a video

This is Paris Now… You Won’t See This in the Tourist Brochures

In this video, I take you through Marché Barbès and its surrounding neighbourhoods — an area that reflects the modern, complex face of Paris most tourists ne...
yesterday
Doc Vega posted a blog post

Trump's Big Beautiful Bill Passes Amidst Democrat Lies About a Tax cut for the Rich Being Averted

AP Photo/Rod Lamkey, Jr.It’s over, folks. President Trump and congressional Republicans aimed to…See More
yesterday
Doc Vega posted blog posts
Wednesday
cheeki kea commented on Doc Vega's blog post Government Issued Wearables? What’s Wrong With this Picture?
"I wonder what wearables must have been like before the last reset. "
Wednesday
Burbia commented on Burbia's video
Tuesday
Doc Vega commented on tjdavis's blog post National Blueprint For Biodefense
"Another scare tactic to push people into anew regime of vaccinations! Either that, or this is a…"
Tuesday
Doc Vega posted blog posts
Tuesday
Sandy posted a video

Dr. Mike Yeadon Speaks Out Against Digital ID, CBDCs, and Agenda 2030

Dr. Mike Yeadon, ex-Pfizer VP, urges public rejection of digital ID, CBDCs, and Agenda 2030, warning of future restrictions on freedom and privacy.
Tuesday
Burbia posted a video

"EVERYONE'S BEEN SHOT UP HERE": Arsonists Set Wildfire In Idaho, Open Fire On Firefighters, Police

- Shocking news just broke that multiple firefighters and officers were shot in an ambush at the Canfield Mountain Natural Area in Coeur d'Alene, Idaho.Acco...
Monday
Doc Vega posted a blog post

Well Known Wilderness Photographer Disappears in the Cascades-Guess Why?

 In August of 2023 another aficionado of the great outdoors went missing. The chilling revelations…See More
Sunday
Doc Vega posted a blog post

The Draconian Show

Sometimes I talk to my invisible friend, IkeHe comes from another dimension when magnetic fields…See More
Jun 27
tjdavis posted a blog post
Jun 26
Doc Vega posted a blog post
Jun 25
Doc Vega posted blog posts
Jun 24
Doc Vega posted blog posts
Jun 23
Doc Vega favorited tjdavis's photo
Jun 22
Doc Vega commented on tjdavis's photo
Thumbnail

Game Night

"Ha! Good one!"
Jun 22
Doc Vega commented on FREEDOMROX's blog post MRNA VACCINES: Question
"Listen man I know where you're at but back in October of 2023 thru December of 2023 for months…"
Jun 22
tjdavis posted a video

Architecton | Official Trailer HD | A24

SUBSCRIBE: http://bit.ly/A24subscribeWritten and directed by Victor Kossakovsky and starring Michele De Lucchi. ARCHITECTON – Coming Soon RELEASE DATE: Comin...
Jun 22

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted