Finance Experts: Cypriot Rejection of Bank Levy Means Bank Depositors Could Lose Everything

LIMASSOL - Cyprus - By defying the EU and reneging on their promises to pay back the ECB, the bankrupt banks may never open again leaving depositors high and dry, EU finance experts have revealed.

“There are a few reasons all banks will be shut for the next week in Cyprus. Firstly, there would be capital flight en masse, then there would be financial melt down because a lot of the money that depositors put into the Southern Greek banking system does not exist any more. It was lost to the Greek bond bailouts. So if you as a depositor put your life savings into one of these banks, the bank used your money already. Unfortunately, there is nothing you can do about it because the banks themselves are bankrupt unless they get more money from the ECB to pay depositors. This is the reason they cannot open the banks again because there is nothing to give to you,” a Laiki Bank official said from his luxury yacht moored in Paphos.

Because Greek Cypriot ministers rejected the proposed bank levy, the liquidity in the Cyprus banking system is now zero, or minus.

“We now stand to lose the whole deposit of our accounts because of the rejection of the 10% bank levy. I guess we will have to kiss Russian ass huh,” a depressed kebab shop owner told Cyprus Daily newspaper.

EU officials were said to be actually quite glad that the Cypriots rejected the deal and look forward to the next round of events.

Daily Squib Book

DAILY SQUIB BOOK The Perfect Gift or can also be used as a doorstop. Grab a piece of internet political satire history encapsulating 15 years of satirical works. The Daily Squib Anthology REVIEWS: "The author sweats satire from every pore" | "Overall, I was surprised at the wit and inventedness of the Daily Squib Compendium. It's funny, laugh out loud funny" | "Would definitely recommend 10/10" | "This anthology serves up the choicest cuts from a 15-year reign at the top table of Internet lampoonery" | "Every time I pick it up I see something different which is a rarity in any book"
Disqus Comments Loading...
Share
Published by
Tags: eu

Recent Posts

Tories Choose Non-Hardline Diversity Candidate Kemi Badenoch as Next Leader

LONDON - England - The Tories have chosen Kemi Badenoch as their new leader.

7 hours ago

The Dekulakization of British Farms is Underway

THE COUNTRYSIDE - England - Say goodbye to British farms as Labour conducts a policy…

13 hours ago

Early Votes Indicate Kamala Harris Will Win Election

WASHINGTON DC - USA - Kamala Harris is well ahead with early ballots counted, and…

1 day ago

Kamala Harris Wants to Do Rally With Load of Garbage

MILWAUKEE - USA - The Kamala Harris election campaign team want her to do a…

2 days ago

Bond Markets Digest the Nightmare Debt Bomb Labour Budget

LONDON - England - The financial and bond markets have sadly digested the utter lies…

3 days ago

Biden Hate Speech: “Trump Supporters Are Garbage!”

WASHINGTON DC - USA - According to Joe Biden "Trump supporters are garbage" as he…

3 days ago

This website uses cookies.