Cyprus Looks Like Toast

Exclusive: Euro zone call notes reveal extent of alarm over Cyprus

Quoting the Chairman of the Eurogroup Working Group:

The economy is going to tank in Cyprus no matter what.

Surprisingly, the ATMs have been restocked for a few days and people were allowed to withdraw up to six hundred Euros a day. At forty Euros at a time. The last word is that they’ve dropped the daily limit to two hundred and forty Euros.

How soon before the ATMs stop working again?

Previously here:

Cyprus: No Cash Until March 26th
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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2 Comments

Filed under Collapse, Pottersville

2 responses to “Cyprus Looks Like Toast

  1. As YB says, “it ain’t over till it’s over.”
    Curious to see who bluffs and who calls the bluff.

    If I was Cyprus I’d walk with the following message to the Gerry’s, “We have the warmest climate in the EU Med. We have miles of beautiful beaches. We can grow our own food. Go to hell!”

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