Colosseum a.s. (Colosseum a.s.)
Markets  |  March 21, 2013 15:49:33

Cyprus: IINFORMOVANÍ reportedly managed to pull out of the country 4.5 billion

ColosseumECB announced that Monday, the 25th emergency funding ends in March Cypriot banks (ELA), if a country accedes to the EU and IMF conditions. Without emergency program will be at least two major Cypriot banks without sufficient liquidity. In an emergency funding (ELA) has been since June last year. Banks are open according to official information until Tuesday because Monday is a public holiday. Widely expected to run on the banks, which could spread to other countries and the fact that the maximum amount of money that can be selected or send from your account, it will be between five and ten thousand euros.

Cypriot politicians and other informed depositors according to the Italian news agency Ansamed still managed on Friday before closing to foreign banks hide € 4.5 billion. That's almost six percent of the total deposits of banks in Cyprus.

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