“The banking crisis in Cyprus is worsening, Eric. The banks there remain shut as the Cypriot politicians scramble for a solution to bailout that country’s banks. The banks were supposed to re-open this past Tuesday after a 3-day weekend from a national holiday.
Then they were supposed to open today, but they remain shut. Now the authorities say they will open on Tuesday. But who knows? They could remain closed for days or even weeks, given their dire financial condition.
In fact, the EU authorities say that the Cypriot banks are insolvent….
Read the complete article at King World News here.
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