“There are bank runs here in Europe again, Eric. Today is a national holiday in Cyprus, so the banks are closed. But people are lining up at ATMs to get their money out before the ATMs run dry. And there is talk that a bank holiday will be declared, possibly keeping them closed for days.
Depositors in Cyprus are going to lose some of their money as part of a proposed EU bailout of that country announced over the weekend, which like a a number of other countries, along with its banks, are insolvent and teetering on the edge of bankruptcy….
Read the complete article at King World News here.
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