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Cyrpus : Friday saw a run on the country’s cooperative banks – Trust in the system may not return

Cypriot presidency in calm call

Открытие банков Кипр банк Кризис

© Photo: Peter Nicou for the Voice of Russia

The Cypriot authorities including the Central Bank and the presidency have called on the people to ignore financial panic mongers and stay calm.

 Friday saw a run on the country’s cooperative banks after persons unknown started circulating SMS messages with warnings that the deposits held in these institutions will be subject to what came to be known as ‘haircutting’.

 The authorities say the rumour is false.

 Voice of Russia


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