The government also extended a bank holiday that was put in place to try to stop a run on the banks. The holiday was supposed to end Monday night. Now, banks will not be opening their doors Tuesday, as planned. There was talk that they might not open Wednesday, either.
Boldfaced emphasis added by me.
Why is that a surprise? They can’t open without withdrawal limitations, further eroding confidence in the corrupt system.
This is being positioned as, “Hey, Cyprus is a money-laundering hub for filthy money from Russians. It’s OK to screw them. As for the regular people who get screwed too, they should count their blessings that they’ll still have something.”
Which is such an utter crock of shit that I’m surprised the people of Cyprus have not burned down all the government offices, looted the banks, and hanged all of the smug bastards who agreed to this.
Maybe the “Russian Oligarchs” will do all that with their own mercenaries. I wouldn’t want to be a politician or banker in Cyprus.