Arab Today, arab today all cypriot banks to stay closed untill thursday
Last Updated : GMT 15:00:15
Arab Today, arab today
Arab Today, arab today

All Cypriot banks to stay closed untill Thursday

Arab Today, arab today

Arab Today, arab today All Cypriot banks to stay closed untill Thursday

Nicosia - XINHUA

Changing an earlier directive, Cyprus Central Banks instructed early Tuesday all banks to stay closed for two more days until Thursday. There was no immediate explanation for the change of plans. Under the first directive, all banks except Bank of Cyprus and Cyprus Popular Bank would open on Tuesday after an extended eight-day bank holiday. The instruction was criticized by economists, most notably former Cyprus president George Vasiliou who said it would be damaging the banking system and the economy. All banks, including about 26 foreign banks and cooperative credit societies will reopen on Thursday. President Nicos Anastasiades said in a televised address on Monday that the Central Bank will impose limit on bank transactions to avoid a run on deposits. When the banks reopen, Cyprus Popular Bank, known as Laiki, will cease to exist as such. It will be split into a good bank and a bad bank, with the good portion folded into Bank of Cyprus. The good Laiki will take with it deposits under 100,000 euros and other assets and also a 9.2 billion euro debt resulting from European Central Bank emergency liquidity assistance. The bad part of Popular Bank will ultimately be liquidated with bond and equity holders and large depositors taking the loss. Merging the two banks and the resumption of the operation of the banking system on Thursday will be the first test for the Cypriot government in implementing Eurogroup conditions for a 10 billion euro bailout. Anastasiades said in his speech the European Central Bank had informed the Central Bank it will safeguard adequate liquidity for the banking system.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today all cypriot banks to stay closed untill thursday Arab Today, arab today all cypriot banks to stay closed untill thursday

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday