Cyprus Bailout | Time For a Plan Z?


Cyprus Bailout | Time For a Plan Z?

Euronews this morning carried images of scenes outside a major bank in Cyprus. Little wonder since the Government are frustrating its citizens with little action. Uncertainty is fuelling this anger when day after day the banks remain closed and limits are put on withdrawals from cash machines.  We have not reached Plan Z yet, but the renewal of the haircut plan is not ruled out.

Plans are afoot to keep the second largest bank afloat. Russia are not interested in acquiring ROC banks and it has to be said that although many avenues are being looked at, no positive solution seems to be near. Keeping the banks closed may only be putting off the inevitable. What is for sure, this Greek tragedy (some might even say Greek caused tragedy) seems to be set to run and run.

Power to the people

Citizen Smith

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