As I said there will probably be police to start with and if the public turn into a mob then it could be classed as an attempted bank robbery, regardless of the fact that you only wanted your money. I suspect that there will be plenty of ways that the public will get their own back. Large queues every day would cause panic, as it would resemble a bank run. If there was a weekly limit of €100 they might queue up every day and take out €20 every weekday. So if people queued outside every bank every day even taking turns and coming back later it would send a signal to the government.

Then they could form new popular parties and vote them out in 2016.

But what happens when it is the police themselves who are after their money?

if they're not smart enough to make sure the police are on their side, they deserve the lamppost-related asphyxiation that's heading their way.

Jon

Well it is not going well. The security guard company G4S (of Olympic Shambles fame) are doing the security for the banks, and they cannot get enough people for the job. If the police do switch allegiances then it will be a helicopter escape for the government as they run to join their money that they moved offshore before the bank shutdown.

Will their new currency be necklaces of severed ears?

Conch shells.

NSFW, gory

http://brianorndorf.typepad.com/.a/6a00 ... 970c-500wi

I only saw severed ears in the tapatalk preview and knew I was going to see universal soldier!

Cult classic, purely because of Dolph

I would have thought the combo of Dolph and Jean Claude was the crucial thing that made it so good. It is a great film.

Well the banks are about to open in Cyprus so only a matter of time before we find out if it is a success and or we better start keeping our ears safe.

Well I was right that there were long queues and they only let them in five at a time. Sounds like a sweet shop only allowing school kids in two at a time.

http://www.bbc.co.uk/news/business-21982652



WTF?!

Coming soon to Ireland. It has huge hidden losses on its banks books and the assets are significantly overvalued. With more than 10% of mortgage holders in significant arrears, and draconian bankruptcy law it will end badly there. They cannot simply fleece the tax payers again for the losses at the big three Irish banks. I had a look at online property prices in Dublin and it is still crazily high. I am surprised anyone is actually buying there. Though if you have more than €100 000 why do you keep it in one bank?

Glad I've got no money in bank of Cyprus.

Got over €100k then kiss it goodbye as they steal 60% of it.

Won't be long before some very angry Russians descend on Cyprus me thinks.

Not just Bank of Cyprus but all the banks big depositors will suffer. This was caused by the last Greek writeoffs. Much of the Cypriot banks held assets in Greek Sovereign bonds. So when they were written down by 70% that imposed big losses on the Cypriot banks. It was that that destroyed the Cypriot banks not really bad lending like Barclays or RBS etc. The problem is that this plundering of depositor to bail out counter-parties means that all bank insurance is toilet paper and not worth the paper it is written on. What this means that depositors have had their seniority over bondholders downgraded significantly so now that they are almost unsecured creditors. If you have more than €100 000 in anty account then you are a fool. Though if you bring all your holdings below €100 000 there is no guarantee that they will not pillage the insured deposits next time.

It turns out some are not happy there.

http://www.huffingtonpost.com/2013/03/24/bank-of-cyprus-bomb-explosion_n_2945637.html