Cyprus Bank Run Shakes Forex Brokers, FNIB Swiftly Accepts Deposits

Posted on Monday, 8th April 2013 @ 12:58 PM by Text Size A | A | A

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Security officers posted before some Cypriot banks will not change anything. The Government in Nicosia is obsessed with one question: how to avoid a massive capital flight when the banks reopened, Thursday, March 28, after twelve days of closure? The Cypriot authorities have drafted an initial response when the Parliament’s vote Friday on a restructuring of the banking sector. Now, financial transactions will be strictly supervised and restricted the movement of capital. A first in the euro zone.

Theoretically, the freedom of movement of capital is guaranteed within the Monetary Union. But exceptional circumstances give the Member States the right to take administrative control measures. It prevents. If Europe has validated that decision on the occasion of the rescue of Cyprus plan, she is in boasts little. So far, capital controls evoked more emerging countries. As the Argentina and his famous corralito, put in place end of 2001 when the State bankrupt limited cash withdrawals and prohibits the sending of funds abroad.

Even the Cyprus trying to solve the problem of the crisis will remain as it is and known regular imbalance to avoid this doubt and worry wrong Profit this opportunity and join FNIB Swiftly.

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