Cyprus Central Bank Orders Banks to Suspend Operations

RIA Novosti
Sunday 17th March, 2013

MOSCOW, March 17 (RIA Novosti) – The Central Bank of Cyprus has ordered all national banks to suspend operations at both domestic and foreign offices, a Cypriot news website reported on Sunday. Cypriot website 24h said it has obtained a confidential Central Bank letter calling on Cypriot banks on Saturday to stop all form of payments from their accounts, even those that were from one account at the bank to another. The measure, which Cypriot media said is a “blow to the country’s banking system,” comes after EU finance ministers agreed on Saturday to tax deposits in Cyprus as part of t…

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