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Cyprus banks locked up after government money grab

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Cyprus’s governing body voted down an attempt to “rob” money from deposits held for individuals by the nation’s banks. That’s a good thing, right?

Well, yes. However, it leaves the Cypriot government with a dilemma. “The rejection leaves Cyprus’s bailout in question. Without external funds, the country’s banks face collapse and the government could go bankrupt,” according to the Associated Press.

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Denton (Denny) Newman Jr.
I've worked at the Brainerd Dispatch with various duties since Dec. 7, 1983. Starting off as an Ad Designer and currently Director of Audience Development. The Dispatch has been an interesting and challenging place to work. I'm fortunate to have made many friends, both co-workers and customers.
(218) 855-5889
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