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Central Bank of Cyprus Ordered all National Banks to Close!*

Within two weeks of the invasion of Libya, the independent central bank was established to re-align with the global central banking system, which not only oversees all domestic transactions, but facilitates the one way flow of domestic and international wealth from the bottom up with the 99% providing the 1% with the bulk of the wealth. There is no greater demonstration of this than the EU finance ministers agreeing on Saturday 16th March 2013 to tax the deposits in Cyprus to finance a 10 billion-euro ($13 billion) bailout. The push towards a cashless society is supposed to accelerate this method of ‘liberating’ our hard earned money.

At the same time, it is proof that global governance has gotten the world into the kind of fix that they do not have the credentials to resolve!

The Central Bank of Cyprus has ordered all national banks to suspend operations at both domestic and foreign offices, a Cypriot news website reported on Sunday.

Cypriot website 24h said it has obtained a confidential Central Bank letter calling on Cypriot banks on Saturday to stop all form of payments from their accounts, even those that were from one account at the bank to another.

The measure, which Cypriot media said is a “blow to the country’s banking system,” comes after EU finance ministers agreed on Saturday to tax deposits in Cyprus as part of the extraordinary 10 billion-euro ($13 billion) bailout.

Debt-laden Cyprus has been forced to impose a levy of 6.75 percent on deposits of less than 100,000 euros and 9.9 percent on deposits with greater sums. Cypriots reacted with shock and rushed to banks’ cash machines that refused to release cash.

Cypriot President Nicos Anastasiades said he had to choose between the “catastrophic scenario of disorderly bankruptcy or the scenario of a painful but controlled management of the crisis”. He said those who keep deposits in Cypriot banks for two years will get half of the value of the levy in securitized gas revenues.

Cyprus’s debt crisis puts at risk Russian businesses, which have strong financial ties with Cyprus, Moody’s credit-rating agency said on Wednesday. The report said Russian banks working with the Russian companies registered in Cyprus, might lose billions of dollars should the island’s government default on its debt obligations.


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One thought on “Central Bank of Cyprus Ordered all National Banks to Close!*

  1. Being that the island is half Turkish, half Greek….I read somewhere that the Greek banks on Cyprus won’t close. It’s an interesting place to read about on Wikipedia if geography class was awhile ago for you like it is for me. A situation well worth watching for sure, thanks so much for the updates, we are all on the edge of our seats!

    Posted by kevi | March 19, 2013, 5:33 pm

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