
“Standing in front of a cash machine on a street corner in Nicosia, Andreas Christou could hardly contain his fury. ‘My money is in there and they won’t let me take it out!’ he said, a few moments after withdrawing a paltry €100 – the maximum allowable after a draconian new capital control measure was introduced on Sunday. The 52-year-old businessman holds an account with Laiki Bank, the hardest hit of Cyprus’s debt-laden lenders. It will now effectively be dissolved under the terms of a deal brokered between international creditors and Nicos Anastasiades, the president of Cyprus, during marathon talks in Brussels.”
Related posts:
Italy's Political Scandals Rattle Public Trust
U.S. Treasury to BOJ: Do As We Say, Not As We Do
Chinese airline passengers face worst travel delays
Postal Service losses tripled to $16 billion from previous year
Starbucks Pays $15.4 Million Corporation Tax, Closes Stores Amid British Backlash
Swiss government unveils new plan to end US tax dispute, bypassing parliament
U.S. eyes high-tech security boost at Canadian border
Feds will continue to jail pot dealers ‘in all states’
Treasury Quietly Warns: 'Expect Debt Limit to Be Reached Near End of 2012'
Test reveals Facebook, Twitter and Google snoop on links in private messages
Puerto Rico Defaults On Bonds: Return Does Not Come Without Risk
Google, once disdainful of lobbying, now a master of Washington influence
FBI: Border Patrol agent was likely killed by friendly fire
How gut microbes are joining the fight against cancer
Drones patrolling U.S. borders spark controversy over privacy