Monday, March 25, 2013

Cyprus reaches last-minute deal on 10 billion euro bailout - Takes 40% of peoples money in the bank

Cyprus reaches last-minute deal on 10 billion euro bailout | Reuters:  
Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout. ...
Makes you want to take your money out of the bank, convert it to gold and hide it in your mattress. Couldn't happen here you say. Well, not as long as we have our guns it won't.

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