Cyprus Parliament rejected the proposed European bailout

Dear Clients, Associates and Partners,

Cyprus Parliament did not accept the proposed European bailout plan introduced by Eurogroup and rejected any similar proposal.

Cyprus is the first Country in the Eurozone who rejected such strict and unrealistic measures on bank deposits. Any allegations for money laundering in Cyprus has been dismissed by many independent organizations who have shown that Germany, England and many other countries are a higher risk than Cyprus.

We would like to assure you that our Government, as well all Cypriots, are working for plan B so we can give the message to all Europe that Cyprus will not bend.

The European Central Bank (ECB) has announced that it shall continue providing emergency liquidity to the Cyprus banking system although a few days ago they were threatening Cyprus that possible rejection of the bailout plan will lead to the cutting of any further funding. It is obvious that what happens in Cyprus now is a political game between the big countries of Europe and their intention to shift all funds from Cyprus to their Banks. Cyprus is giving a fight and we are sure that despite the small size of our country we will succeed and win

Finally we would like to inform you that Banks in Cyprus will remain closed until further announcement from the Government. ATM's are working without any restriction.

Thank you for the understanding and your support

 

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