The Cyprus banking mess continues on unabated. The Cypriot parliament unanimously voted down the plan to confiscate depositor funds leaving the government with only a few bad choices. Banks are still closed and may never reopen. The IMF/ECB refuses to budge on the confiscation plan and things could get ugly in Cypress and across Europse very quickly. No need to worry, besides potential government confiscation of your retirement plans, the Ben Bernank will stop at nothing to prevent banks from closing, even dropping money from 747’s if necessary.
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