Friday, March 22, 2013
The Grandmother that knew about the Cyprus Haircut
“My grandson is an economist in Russia and he has been telling me, if something happens with the Cypriot banks, it will happened on the weekend. He told me to withdraw the money every Friday.”
She was laughed at by the bank employees, but now unlike most of the country she has access to her money while the banks in Cyprus stay closed until at least Tuesday of next week. While the Cypriot legislature did not pass a bill that would have taken between 6.75% and 10% of bank deposits, who knows what desperate politicians will do now to get their fix of financial aid from the IMF. At least one person won’t be affected, thanks to a caring grandson.