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Cyprus: No Bank Run
People ♦
Published: March 29, 2013; 12:10 ♦ (Vindobona)
The feared bank-run after the almost two-weeks long closing of the banks in Cyprus has not occured.
Cyprus: No Bank Run / Picture: © Central Bank of Cyprus
The restriction measures to avoid capital outflow have lead to insecurity amonst creditors and investors (many of them Russians) and instabilities on the financial markets. Today, Cyprus’ banks have opened again at the regular hours. A bank run is not expected today as yesterday was not seeing any tumults either. The capital flow had been limited by an emergency law. According to the…
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