Monday, March 25, 2013

A Letter from Cyprus: Economy Shutting Down, Going CASH ONLY!

http://www.silverdoctors.com/a-letter-from-cyprus-economy-shutting-down-going-cash-only/

Nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY.

Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed.

If the banks remain closed, the economy will be destroyed and STOP COMPLETELY.

Looting, robberies and theft are already on the rise.

If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash.

1 comments:

united states financial crisis said...

The economic crisis in Cyprus is really severe and I wish other countries would help to avoid robberies and theft.