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22 Mar 2013
Forex Flash: Cyprus Popular Laiki bank limits withdrawals to €260/day - Societe Generale
FXstreet.com (Barcelona) - As Sebastien Galy, currency strategist at Societe Generale, notes, "the Eurozone is insisting on the 100K protection which consequently leaves the offshore depositors to take the risk."
"What seems to be going ahead is the bank resolution (bad bank good bank) for one of the two major banks. This is the most pressing issue, with one bank restricting cash withdrawals to 260 EUR per day per person" he adds.
"What seems to be going ahead is the bank resolution (bad bank good bank) for one of the two major banks. This is the most pressing issue, with one bank restricting cash withdrawals to 260 EUR per day per person" he adds.