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Cypriot bank account seizures devastating to many

A journalist in Cyprus says the Bank of Laiki is devastating its customers by taking from them their entire balance that is in excess of the 100,000 euro ECB limit.

In the background of this in Cyprus the rule announced by the government that owners of savings accounts with in excess of 100,000 euros in bank accounts held at the Bank of Cyprus would have up to 60 percent taken from them to be allocated to the government’s debt is biting hard and court cases are mounting. A group of bank employees have walked off the job in protest of the immoral actions against their customers who are devastated, losing almost their life savings in some cases.

READ MORE CYPRUS NEWS AT: 21st Century Wire Cyprus Files