Cyprus: No Cash Until March 26th

Cyprus banks to remain closed another 2 days

Banks in Cyprus will remain closed for another two days as officials try to find a new plan to stave off financial ruin, the central bank’s spokeswoman said Wednesday.

Aliki Stylianou confirmed the additional two-day closure for Thursday and Friday. As next Monday is a national bank holiday in Cyprus, the institutions will not reopen before next Tuesday at the earliest.

How much of a disaster is this?

The Church has pledged all of its wealth!

At the disposal of the state property of the Church says Archbishop [Google English]

The Archbishop said that during the 45-minute meeting with the President of the Republic submitted a specific proposal exit, which provides for the issuance of government bonds.

He expressed confidence that the people will support this effort and noted that it can be mortgaged the entire property of the Church, which he noted, is enormous, and the price to be invested in government bonds.

Boldfaced emphasis added by me.

The banks reopen on Tuesday? Let’s see if that turns out to be true. And what the lines are like then.

Previously here:

Are You Paying Attention Yet?
The Financial Monkeywrench Of Cyprus
Cyprus Launches Financial Andromeda Strain
The Day The ATMs Stopped Working

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