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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: Seismo who wrote (47302)	3/17/2013 12:59:14 PM
From: fred woodall	Read Replies (1) of 219475

From the Free Republic Website: This is how it went down: Banks first cooperated with the EU by sealing off the amount of the proposed levy—a 6.75 percent tax on deposits under €100,000 and 9.9 percent on those above —making it impossible for depositors to access their full amount. The only means bank customers have left is the ability to draw from the rest of their funds via ATM machines this weekend. Many depositors made their way to the machines on Saturday to drain their accounts. But the few banks that opened on Saturdays did so only briefly, and no international transfers will be able to go through until Tuesday, with Monday being the holiday. Cyprus’ Parliament is expected to meet Sunday to pass the required legislation., or after the deed was done. The deal also needs the approval of several eurozone parliaments; at the time

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