Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/27/2013 (2 years ago)

Catholic Online (www.catholic.org)

Cypriots unable to withdraw more than $380 daily

After weeks of financial turmoil, the nation of Cyprus will reopen its banks on Thursday while limiting withdrawals, banning checks and curbing the use of Cypriot credit cards abroad. These tough new rules come after measures were imposed to avert a bank run after it agreed a tough rescue deal with international lenders.

Cypriots have taken to the streets of Nicosia in the thousands to protest against a bailout deal that will push their country into an economic slump and cost many their jobs 'I'll pay nothing; I owe nothing,' protest banners have read.

Cypriots have taken to the streets of Nicosia in the thousands to protest against a bailout deal that will push their country into an economic slump and cost many their jobs "I'll pay nothing; I owe nothing," protest banners have read.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

3/27/2013 (2 years ago)

Published in Europe

Keywords: Cyprus, banks, bailout deal, euro, E.U., restrictions


LOS ANGELES, CA (Catholic Online) - The announcements come nearly two weeks after Cypriots could only get cash through limited ATM withdrawals. However, a central bank official said Cypriots would be allowed to withdraw no more than $380 in U.S. dollars daily.

Head of internal audit at the Central Bank Yiangos Demetriou declared that the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros per month abroad. Demetriou said the measures would last four days.

As was leaked to the Greek newspaper Kathimerini, Cypriots would not be permitted to send money overseas without documentation showing they are paying for imports.

In addition, those travelling abroad could take a maximum of 3,000 euros on each trip, according to the draft. Early withdrawals of funds deposited with banks for a fixed term would be banned.

The European Central Bank delivered extra banknotes to Cypriot banks to meet public demand, a source familiar with the situation said.

Finance Minister Michael Sarris has said capital controls will be "within the realms of reason." Cypriots, fearing for their savings and angered by the bailout deal struck this week in Brussels are expected to inundate banks.

Cyprus's second largest bank will be closed and its guaranteed deposits of up to 100,000 euros transferred to the biggest bank under the agreement. Deposits of more than 100,000 euros at both banks would be frozen.

Authorities say deposits up to 100,000 euros will be protected, a reversal from an earlier plan that would have hit small depositors as well.

Cypriots have taken to the streets of Nicosia in the thousands to protest against a bailout deal that will push their country into an economic slump and cost many their jobs.

"I'll pay nothing; I owe nothing," protest banners have read.

European leaders said the bailout deal averted a chaotic national bankruptcy that might have forced Cyprus out of the euro.

"We have been assured that limitations will not affect transactions within Cyprus at all," Speaking after meeting government officials, the head of the Cyprus chamber of commerce said. "Where there will be limitations is on what we spend abroad and also on capital outflows," Phidias Pelides told reporters.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2015 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for February 2016
Universal:
That prisoners, especially the young, may be able to rebuild lives of dignity.
Evangelization: That married people who are separated may find welcome and support in the Christian community.



Comments


More Europe

SCARY POLL: One in four Germans favors shooting illegal immigrants at borders Watch

Image of A political storm brewed last week after Alternative for Germany - or AFD party leader Frauke Petry [not pictured] advocated the right of border police to gun down migrants.

By Catholic Online (CALIFORNIA NETWORK)

Growing weary of accommodating refugees from such trouble spots as Syria and Iraq, the German people have expressed a rather shocking sentiment in a recent poll. According to the survey - one in four Germans favors shooting illegal immigrants at their nation's ... continue reading


Seven suspects arrested in Spain for smuggling weapons to ISIS - disguised as humanitarian aid Watch

Image of Eighty-two suspects have been arrested in connection with suspected terrorist activities in Spain since the beginning of 2015.

By Catholic Online (CALIFORNIA NETWORK)

Seven people have been arrested in Spain and North Africa on suspicion of supplying bomb-making equipment to Islamic State leaders in Syria and Iraq - under the phony pretense of sending humanitarian aid. LOS ANGELES, CA (Catholic Online) - Six men were arrested ... continue reading


REVEALED: Pope Pius XII's secret efforts to overthrow Hitler Watch

Image of In the late 1990s, debate over whether Pius XII did enough to counter the Nazis reached a high point with the publication of the deeply controversial book,

By Kevin J. Jones, CNA/EWTN News

Pope Pius XII's secret support for the attempted overthrow of Nazi dictator Adolf Hitler is the subject of a new book that draws on wartime documents and interviews with the American intelligence agent who wrote them. Washington D.C. (CNA/EWTN News) - "This ... continue reading


Germany cannot take in 'all the world's needy,' Catholic Church says Watch

Image of The anti-Islamic group Periga has encouraged fellow Europeans to join them in marches for

By Catholic Online (CALIFORNIA NETWORK)

Charity has limits, church officials in Germany say. Taking in the majority of the world's Syrian refugees, representatives from the Catholic Church now say that resources are being stretched to the limits, and new refugees must be controlled. LOS ANGELES, CA ... continue reading


Remains of St. Padre Pio of Pietrelcina, St. Leopold Mandic arrive in Rome for Jubilee of Mercy Watch

Image of The relics of the two saints were welcomed to St. Lawrence with a large celebration and procession into the basilica (CNS/Reuters).

By Elise Harris, CNA/EWTN News

The partially incorrupt body of Padre Pio has arrived to Rome for the first time ever alongside that of another friar, St. Leopold Mandic, as a special initiative for the Jubilee of Mercy. Vatican City (CNA/EWTN News) - Urns containing the relics of Saint Padre ... continue reading


Seeking reconciliation, Pope Francis, and Russian Orthodox leader to meet in Cuba - for first time, ever Watch

Image of The meeting comes after years and decades of previous outreach efforts, which has prevented papal visits to Russia (AFP).

By Catholic Online (CALIFORNIA NETWORK)

In the hopes of repairing a schism within Christianity, that dates back as far as the 11th Century, Pope Francis will meet with the leader of the Russian Orthodox Church in Cuba. The two branches have been estranged because of disagreements over papal authority - as ... continue reading


Woman takes toddler to join ISIS Watch

Image of Tareena Shakil took her toddler to Syria to join ISIS (PA).

By Kenya Sinclair (CALIFORNIA NETWORK)

Twenty-six-year-old Tareena Shakil told her family she would be vacationing in Turkey with her 14-month-old son. The next time her family heard from her, Shakil and her son were in Syria - and had joined the terrorist organization ISIS. LOS ANGELES, CA (California ... continue reading


Evidence of the Yeti? Footprints in Himalayan snow said to be of abominable snowman Watch

Image of Among the most elusive of all crypto-zoological creatures, the Abominable Snowman has had several eyewitness accounts. Some Russian fans here pose with an elaborate mock-up of the snowy creature (Lenta).

By Catholic Online (CALIFORNIA NETWORK)

The abominable snowman, or Yeti, remains one of the world's most elusive crypto-zoological figures. There have been many eyewitness reports of the hairy giant throughout the mountain ranges of the Himalayas for many years. A British man, on vacation in Bhutan, ... continue reading


'I should never have smiled at him': Nightclub owner bans migrants from club when language barrier leads to sexual harrassment Watch

Image of When women began to report migrants harassing them at his nightclub, Jensen decided to take action (Mads Flackner).

By Kenya Sinclair (CALIFORNIA NETWORK)

Tom Holden Jensen, the owner of a Danish nightclub, decided to ban all migrants who don't speak Danish, English or German from his Buddy Holly club in S√łenderborg. The controversial decision was made after several women claimed they felt threatened and intimidated by ... continue reading


'Covering St.Peter's in an enormous box?' - Italians react to veiling of classical art for alien religion Watch

Image of Statues were covered in advance of Rouhani's visit to Rome, but not all of them.

By David Drudge (CALIFORNIA NETWORK)

Italians are upset that state officials covered ancient Roman statues to avoid offending Hassan Rouhani's sensibilities during his visit to Rome. The president of the Islamic Republic is on a tour of Europe to drum up trade following the lifting of sanctions on Iran. ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Can you answer these four challenging questions about Lent?
  • Take this thought provoking Stations of the Cross survey
  • Daily Reading for Tuesday, February 9th, 2016 HD Video
  • St. Apollonia: Saint of the Day for Tuesday, February 09, 2016
  • Stations of the Cross - Series HD Video
  • 10 important things to consider during Lent
  • Daily Readings for Tuesday, February 09, 2016

Daily Readings

Reading 1, First Kings 8:22-23, 27-30
22 Then, in the presence of the whole assembly of Israel, Solomon stood ... Read More

Psalm, Psalms 84:3, 4, 5, 10, 11
3 Even the sparrow has found a home, the swallow a nest to place its ... Read More

Gospel, Mark 7:1-13
1 The Pharisees and some of the scribes who had come from Jerusalem ... Read More

Saint of the Day

Saint of the Day for February 9th, 2016 Image

St. Apollonia
February 9: St. Apollonia, who died in the year 249, was ... Read More