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BREAKING: Cyprus Central Bank: Finance minister has ordered all banks to remain closed until Thursday! Cyprus is done as a tax haven!

Looks like Cyprus banks aren’t reopening tomorrow after all – all banks to remain closed until Thursday. Not enough cash?

The Associated Press‏@AP4 min
BREAKING: Cyprus Central Bank: Finance minister has ordered all banks to remain closed until Thursday

Cyprus Market‏@russian_market29 s
Not again! Cyprus banks to remain closed through March 27: Central bank

Cyprus Market‏@russian_market49 s
Banks closed in Cyprus till March 27. Then what? Easter holidays? *sigh

zerohedge‏@zerohedge3 min
The Cyprus Central Bank would like to retract its statement that some banks were opening tomorrow.



Have The Russians Already Quietly Withdrawn All Their Cash From Cyprus?

“The stealth withdrawals by Russians of course means that the two megabanks are now utterly drained of capital, and that the haircuts on those who still have unsecured deposits with the two banks will be so big it will likely mean a complete wipeout of all deposits. As in 0% recovery on your deposits!”

The insured deposits were going to be paid on the assumption that all the Russian money was going to be confiscated. No way to do that now that the Russian money is gone.

For Cyprus, painful cuts follow ‘heart attack’ to the economy

Matt O’Brien‏@ObsoleteDogma3 min
Cyprus is done as a tax haven. Latvia has been warned to stop if it wants to join the euro. Luxembourg & Malta know they could get Cyprus’d.

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