Home / Articles & Videos / Cyprus crisis deepens: Bailout rejected, banks may not reopen

Cyprus crisis deepens: Bailout rejected, banks may not reopen

 
Thousands of Cypriots withdrew savings over the weekend fearing the deal might pass, emptying ATMs and sending global money markets into a steep dive.

Banks were ordered to remain closed after finance officials predicted a run on savings and a huge outflow of capital if they were to reopen. Germany’s finance minister, Wolfgang Schaeuble said major Cypriot banks were “insolvent if there are no emergency funds,” according to a BBC report, meaning savers might lose all their money if no deal was reached.

Read the complete article at Daily Paul here.

# Here you can see WHY it’s crucial to own physical gold & silver now, and HOW you can buy [and sell] it.

See also:

Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.

Translate »