I've been following this closely since Saturday. Finally hit the MSM yesterday, late - looks like they've delayed the vote and are keeping the banks closed until Friday. (and who knows if it will last longer than that?)
I think it is ALWAYS good to have some cash on hand, regardless.
I'm surprised the IMF thinks it can get away with this - the ultimate result will be a distrust of banks (and FDIC - each country has their version) for years and years to come.
Looks like the government in Cyprus voted not to accept the bailout terms - interesting vote - I think 19 abstained, the rest voted no. A dear friend of mine who works in the finance industry said that there was probably more to come...
pam they voted no to SAVE their own lives due to the massive deposits by russian oligarchs and russian mafia who would have lost a bundle if they voted yes.......lots going on behind the scenes and from what i heard is Cyprus is a TESTING ground to see if they can get away with this on a larger scale .
notice the clever use of a water locked tiny island that IF chaos were to ensue it COULD not spread beyond THEIR borders and could EASILY be contained. this is a government robbery showcase
The following user(s) said Thank You: pam, fourfingerz, paul
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EU Raids Private Savings Accounts to Pay for Cyprus Bailout
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