Cyprus banks may never open again

“Germany’s finance minister has warned Cyprus that its crisis-stricken banks may never be able to reopen if it rejects the terms of a bailout.”

“There may have been jubilation among many Cypriots at Tuesday night’s parliamentary defeat of the hated banking tax, but now the country faces a tough reality.”

Cypriot leaders held crisis talks on Wednesday to avert financial meltdown after rejecting the terms of a controversial European Union bailout, turning instead to Russia for help.

Banks on the Mediterranean island may never reopen, Germany warned after lawmakers late Tuesday turned down a $12.9 billion deal that would have seen Cypriots lose up to 10 per cent of their bank deposits.

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


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  • ralphie44


  • Anti-EU

    All Germanys fault. Germany forced all these countries to take debt like theres no tomorrow of course. Germany also forced the countries governments into the EU, where they profit from a common market. Germany aswell of course withdraw money from Cyprus in advance of the Bank-Run to force them into giving free gas licenses to gazprom. Oh wait, or was that Russia?

    I wish Germany would leave the EU immediately and that whole corrupt rathole falls apart. But Germany has a chill of the NEW WORLD ORDER leading the country. Angela Kastner, aka IM Erika, some Stasi whore committing high treason against her own people.

  • Larry2

    So if you don’t give us permission to take 10% or 20% of your money we will close the bank permanently and just keep it all.