Cyprus Banks To Stay Closed Through Thursday

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

The Cyprus central bank has declared that all banks in the nation will be closed through Thursday as measures are put in place connected to the nation’s bailout.

President Nicos Anastasiades called the moves “very temporary restrictions” and said that controls to keep money from leaving the country has been put in place.

The government released a statement saying that losses to uninsured depositors in banks would come in “under or around 30%.” The government is required to raise 5.8 billion euros on their own before the 10 billion bailout can be given to them.

The deal initially helped boost world stock markets but when the Dutch finance minister called the action a “template for resolving future Eurozone banking problems” most markets took a downward turn.

The new deal was structured in a way that unlike the previous deal the Cypriot parliament can be bypassed.

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