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Ahead of reopening, "truck loads of euro notes arrived at the Central Bank in Nicosia." They came "under heavy police escort." Helicopters hovered overhead.
Cash will be distributed among Cypriot commercial banks and cooperatives.
Depositors be warned. Eurozone banking is irrevocably broken. Bank-held deposits no longer are safe. Eurocrat diktats can be imposed anywhere.
Economics Nobel Prize recipient Christopher Pissarides said "Cyprus finds not all nations are equal."
He came home end of January. He helped President Nicos Anastasiades' campaign. He didn't expect what happened.
The way Eurocrats treated Cyprus "shows that far from the currency bloc acting as a partnership of equals, it is a disjointed group of countries where the national interests of the big nations stand higher than the interests of the whole.""Meanwhile, the haphazard decision-making in the eurogroup continues." It reached "a new low."
It "casts serious doubts on the ability of this group to make the decisions to push Europe forward to financial stability and economic growth."
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