BREAKING: Cyprus decides anti Bank Run Law

[link to translate.google.de]

The first law that is decided in the evening makes Cyprus, all Cypriot banking customers - from rags to oligarchs - almost to petitioners at their own bank. On Tuesday, every citizen will be able to draw a maximum of 260 euros.

As of now, the banks can, without warning, take the following measures:

En • limitation daily limit for cash withdrawals
• No early termination of passbooks possible
• Mandatory extension of temporary bound money
• Conversion of Verechnungs accounts in current accounts
• Prohibition of cash Überweiungen
• Restrictions on bank cards, credit cards, pre-paid cards
• Prohibition of cashing checks
• Prohibition of transfers within one and the live database
• No access to credit intermediaries
• restrictions on all transfers
• Any other action by the Central Bank or any other bank deems necessary to maintain public order and security for notwenig

[link to www.incyprus.com.cy]

NICOSIA – A web site on Friday claims to have seen an urgent bulletin from the Russian Foreign Ministry sent to its embassies all over the world advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions “immediately”.
The site said the Kremlin feared grow that both the European Union and United States were preparing for the largest theft of private wealth in modern history.
According to this “urgent bulletin,” this warning is being made at the behest of Prime Minister Medvedev who earlier today warned against the Western banking systems actions against EU Member Cyprus.
“All possible mistakes that could be made have been made by them, the measure that was proposed is of a confiscation nature, and unprecedented in its character. I can’t compare it with anything but ... decisions made by Soviet authorities ... when they didn’t think much about the savings of their population. But we are living in the 21st century, under market economic conditions. Everybody has been insisting that ownership sunlights should be respected.,” he said on Thursday.
The story on the site “What does it mean. com” was written by Sorcha Faal without further elaboration.

[link to www.incyprus.com.cy]

NICOSIA – A web site on Friday claims to have seen an urgent bulletin from the Russian Foreign Ministry sent to its embassies all over the world advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions “immediately”.
The site said the Kremlin feared grow that both the European Union and United States were preparing for the largest theft of private wealth in modern history.
According to this “urgent bulletin,” this warning is being made at the behest of Prime Minister Medvedev who earlier today warned against the Western banking systems actions against EU Member Cyprus.
“All possible mistakes that could be made have been made by them, the measure that was proposed is of a confiscation nature, and unprecedented in its character. I can’t compare it with anything but ... decisions made by Soviet authorities ... when they didn’t think much about the savings of their population. But we are living in the 21st century, under market economic conditions. Everybody has been insisting that ownership rights should be respected.,” he said on Thursday.
The story on the site “What does it mean. com” was written by Sorcha Faal without further elaboration.

As I said in another thread:

There won't be a bank run.

Laws are in place that you can not withdraw more than 2000 max a week.

And wire transfers can be cut by a switch.

If you still have money in an european bank, it is your own stupidity. And stupidity is very expensive.

In all southern states euro countries these laws are in place.

Every one euro you bring to the bank, is gone, it is not yours anymore.
You might get it back, when the bank gratefully gives it. That might not always be the case.

In France, these same laws are in the making.

And for the US audience: you have some money on your bank, go there and tell them you 5000 Dollars in cash, then come back and tell us what happened.

so, the banks become useless in this way and will be burnt down along with the employees.

In all southern states euro countries these laws are in place.

Every one euro you bring to the bank, is gone, it is not yours anymore.
You might get it back, when the bank gratefully gives it. That might not always be the case.

In France, these same laws are in the making.

And for the US audience: you have some money on your bank, go there and tell them you 5000 Dollars in cash, then come back and tell us what happened.