24 Mar '13, 2pm

New Post: Cyprus Goes Cashless The Hard Way - Forbes #troika #bitcoin #ECB #IMF

New Post: Cyprus Goes Cashless The Hard Way - Forbes #troika #bitcoin #ECB #IMF

“Only put money in the banking system that you can afford to lose,” advises financial commentator Max Keiser. This is no more true than last weekend in Cyprus when bank depositors had electronic transfers blocked and were initially told to prepare for a confiscatory levy of up the 9.9% of their deposit balances across the board. The government then ordered banks to keep ATMs stocked since cash and credit cards were the only remaining methods of transacting. However, it is not clear how much longer the credit cards will be functioning in the country.

Full article: http://www.forbes.com/sites/jonmatonis/2013/03/24/cyprus-...

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