Cyprus banks locked up after government money grab
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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