EU Raids Private Savings Accounts To Pay For Cyprus Bailout

ATMs are being drained in Cyprus

https://www.youtube.com/watch?v=bkn-zDa5HBY

after European Union chiefs

central banking europe

decided late Friday night

to raid private savings accounts

to help pay for the country’s $13 billion bailout.

.

Of course it’s a holiday weekend and banks are closed on Monday,

preventing a panicked bank run.

It is now being reported that the Cypriot cabinet has extended the bank holiday into Tuesday

and possibly Wednesday

in an effort to calm the growing unrest.

Electronic transfers have also been halted in order to prevent capital flight.

EU banksters really know how to pull off a heist.

Read the rest here

and more here

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Mon Mar 18 , 2013
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