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28 March 2013updated 22 Oct 2020 3:55pm

7 pictures of lonely journalists hoping for a Cypriot bank run

The bank run probably won't happen, but capital controls might stay for a while.

By Martha Gill

Sadly for those standing around outside Cypriot banks with cameras and notebooks this morning (and there are way more of them than anyone else right now)…  it might all turn out to be a bit of a snoozefest.

These journalists, for example, are definitely ready for the banks to open:

These journalists are also definitely ready for the banks to open:

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These journalists are so definitely ready for the banks to open it’s actually a bit painful:

Are we nearly there yet?

Tumbleweed…

Why are the police so calm and unprovocative?

This parrot is trying to help the journalists stay positive:

There was a little excitement over the arrival of some armed guards(!) earlier, but as @spignal points out:

..crushing.

The reason there probably won’t be Cyprus bank run is in these here capital controls. People can only take €300 from their account each day, so the emptying of accounts into socks just can’t happen in one go.

Here are some other important details from the legislation, designed to ruin media fun today:

You can only leave the country carrying €1,000

– You can’t cash cheques

– You can’t transfer (much) cash abroad.

Officially, the controls “shall apply for a seven day period starting from the day of its publication in the Official Gazette of the Republic” – but there’s suspicion they might hang around for a bit longer. Here’s Courtney Weaver and Michael Stothard in the FT:

This makes sense – those capital controls are the only thing standing between banks and a potential mob, so they’re likely to stick around in one form or another, for quite some time.

 

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