Tuesday March 26, 2013
Cyprus Banks Stay Closed Until Thursday
The genie is almost out of the lamp.
As Mr. Eskew suggested a few days back, is this the Sarajevo shot that starts the banking dominos falling?
The precedent has been established. The governments can tap into your savings accounts, limit your access to your savings, and cap the amounts you can withdraw.
As I said earlier in this debacle, all the world economies function on a foundation of trust. Shake that trust and the economies will react strongly.