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dipsydoodle

(42,239 posts) Tue Mar 26, 2013, 10:13 AM Mar 2013

Cyprus to bring in weekly cash curbs [View all]

Source: BBC News

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.

Read more: http://www.bbc.co.uk/news/business-21936554

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Cyprus to bring in weekly cash curbs [View all] dipsydoodle Mar 2013 OP

DU Rec Tuesday Afternoon Mar 2013 #1

So the "fix" for their banking crisis is to force people to continue to use the banks, hughee99 Mar 2013 #2

Since when was anyone forced to use a bank dipsydoodle Mar 2013 #3

People who have money in these banks will not be allowed to take out their money, hughee99 Mar 2013 #4

Both are temporary measures dipsydoodle Mar 2013 #5

How long is temporary? Nuclear Unicorn Mar 2013 #8

At present they are saying weeks. dipsydoodle Mar 2013 #10

Call me skepitcal Nuclear Unicorn Mar 2013 #11

They WERE near bankruptcy dipsydoodle Mar 2013 #13

I hope you're right Nuclear Unicorn Mar 2013 #14

Depositors are forced, by these rules: dixiegrrrrl Mar 2013 #6

It's even difficult to remove yourself from Cyprus banks Bosonic Mar 2013 #7

He didn't do it right. Nuclear Unicorn Mar 2013 #9

Bank of Mattress looks better and better (nt) Nye Bevan Mar 2013 #12

If you have to keep you're money where you gonna get screwed keep it at home. Nuclear Unicorn Mar 2013 #15

Slovenia... next thru the meatgrinder quadrature Mar 2013 #16