Convoy Of Trucks Reportedly Hauling Tons Of Fresh Euros As Cyprus Banks Prepare To Reopen
The full Reuters caption:
A policeman stands guard in front of trucks carrying containers at the Central Bank in Nicosia March 27, 2013. The contents of the containers could not be verified by Reuters but local media reported they contained cash for the banks' reopening on Thursday. Cyprus is set to restrict the flow of cash from the island and may curb the use of Cypriot credit cards abroad as it tries to avert a run on its banks after agreeing a tough rescue package with international lenders.
Comment
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Comment by Truth Hurts Ignorance Kills on March 29, 2013 at 6:48am
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I don't know the equivalent for Cyprus, but in Sweden there is a ratio between the physical money in the banks and what they owe the customers at a around 1:337 (easy to remember for the nerds), meaning that the banks can only hand out 0.03% of their debts in cash, at a total bank run.
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Comment by apeman2502 on March 29, 2013 at 2:19am
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Can you say, " Hyperinflation!"?
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Comment by BarbD on March 28, 2013 at 12:36pm
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My God...and the DHS has purchased several million rounds of war crime ammunition to quell/kill Us citizens when this happens in America!! GULP
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