Thursday, March 28, 2013

The Cyrpus - Euro Crisis -- News Updates March 28, 2013



Chaos In Crisis-Hit Cyprus As Thousands Of Savers Rush To Withdraw Cash From Banks Which Have Opened For First Time In Two Weeks -- Daily Mail

* Armed police and security staff on guard over fears of a run on deposits
* Banks will be open for six hours today from 10am GMT (noon local time)
* Maximum cash withdrawal limit has been set at 300 euros (£250) per day
* Travellers leaving country can only take equivalent of 1,000 euros (£850)
* Curbs will be in place for at least seven calendar days and reviewed daily
* OAP: 'I feel sense of fear and disappointment having to queue like this'
* The stock market will remain closed today 'in order to protect investors'
* Banks shut since March 16 as politicians struggled to secure EU bailout

Ten of thousands of Cypriots scrambled to get hold of what savings they could today after the island's banks opened for the first time in two weeks amid tight restrictions on withdrawals.

There were chaotic scenes outside some banks, with one branch manager in the capital Nicosia forced to placate angry customers clamouring to get in ahead of opening.

Bank staff had turned up for work early as cash was delivered by armoured trucks, while armed police and hundreds of staff from private security firm G4S were placed on standby over fears of a run on deposits.

Read more ....

More News On Cyprus And The EU Debt Crisis

Cyprus crisis: banks reopen after tough capital controls agreed - live -- The Guardian
Cyprus banks reopen: Live Report -- AFP
Cyprus bailout: Live

Cyprus banks reopen with tough cash limits -- CNN
Patient Cypriots line up as banks reopen -- Reuters
An Orderly, if Edgy, Calm as Cypriot Banks Reopen -- New York Times
Patient Cypriots line up as banks reopen -- Reuters
Cyprus banks open after 12-day lockdown -- Al Jazeera
Cyprus banks reopen amid tight security and tough curbs -- BBC
Cyprus banks reopen – but stock exchange will remain closed -- The Guardian
Cyprus to reopen banks, impose capital controls -- Reuters
Cyprus Sets Strict Capital Controls -- Wall Street Journal
Cyprus’s Banks Open After Two Weeks as Controls Curb Panic -- Bloomberg
Cyprus banks re-open; limits on transactions -- Bloomberg Businessweek/AP
Cyprus Banks Reopen With Capital Restrictions -- SKY News
Don't Be Fooled By The Calm In Cyprus -- Sam Ro, Business Insider
Cyprus crisis: Clouds of uncertainty as banks reopen -- Paul Mason, BBC
Factbox: Cyprus imposes capital controls -- Reuters

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