A Turkish Cypriot banker said today that savers can transfer their money to the TRNC (Turkish Republic of Northern Cyprus) if they are worried about the latest Euro crisis. Of course, the northern part of the island is not recognised by the rest of the world, and is really just a military extension of Turkey anyway. So, you can give your money to Turkey if you wish, and then exchange it later on, sort of hush hush.
Not so hush hush any more is the list revealed today in Greek print-media showing the names of those who received huge bank loans, which were secretly wiped from the Bank of Cyprus file.... Amongst them, former President of Cyprus, and main proponent of the island joining the EU mechanism in the first place, George Vasiliou (allegedly). He's the guy that said last week how Cyprus is safe and will never leave the Eurozone despite the crisis.
Maybe it's time to look at alternatives, no real tangible money at all... just numbers on a screen....Oh, that's what they're already doing apparently.
All a little worrying when computer 'glitches' cause banks to close their doors on a daily basis these days. Of course, being a former bank employee myself, I know it's 'virtually impossible' for this to actually happen when all systems are 'mirrored' outside of their original base. It's called contingency, and ALL BANKS have these in place for this very reason!
What they're actually doing is holding onto peoples money for an extra night or two to cash in on the markets.
I believe the walls will soon come down on the entire system, as the truth is exposed. What they don't mention about the Cyprus crisis, when they talk about the 'dirty Russian money', is that it's not only Russian, it's British, it's American, it's Qatari, (to name just a few) and it's filtered through the legit banks, not only the Cypriot ones, but ALL BANKS on the island...and then sent to places like Iran and Tanzania....and EVERYONE in the industry knows it.