Cyprus Bailout | Peril of Selling a Property at the Wrong Time


Cyprus Bailout | Peril of Selling a Property at the Wrong Time

They say everything in life is in the timing. Sharon Connor must be thinking someone up there just does not like her. Sharon was widowed last year, her husband was just 54 years and suffered a fatal heart attack.

Having sold their home in Cyprus, the proceeds of the sale 183,000 euros (£155,000) hit her Bank of Cyprus account on the 15th March 2013. On the 16th March 2013, together with all the other hapless account holders, Sharon’s money got locked in due to the banking crisis that the Republic of Cyprus are now living through.

Reading the article in The Guardian newspaper, I still do not see the logic in blaming Angela Merkel since the Republic of Cyprus have been in crisis financially ever since making bad loans domestically and trying to shore up mother Greece.

Whilst my heart goes out to Sharon, I know many others do not buy into the idea that the financial mess ROC finds itself in is the fault of anything other than ‘cavalier bankers’ and inept governance. I know exactly how she feels having no house and no money. Been there, done that, got the T-shirt.

I am sure in the fullness of time Sharon will at least get some of her money back. I wish I had the same assurance.

Never give in never give up

Pauline Read

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