Sunday, 24 March 2013

Cyprus in crisis

You may have noticed that Cyprus has been making the world news recently which is very unusual for our little island. You may have also noticed that I've not commented on the situation at all, something which is unusual for a blogger!

The reason for this is simple,  I basically have no idea what is going on, and certainly don't know enough about the situation to explain it or even comment on it publicly. There are many many sites out there with stories on the crisis - so if you want the actual facts then google is your friend, just don't expect to hear simple and correct information.

I've never heard so many rumours and scaremongering in my life, I appreciate the island is in huge difficulties and it's a serious situation affecting thousands of people and as yet no one really knows how it all will pan out but from reading some of the news reports you'd think the world was actually ending right now!

Since the announcement last week that there would be a levy on all bank accounts of 6.75% for those with a balance of up to €100,00 and a 10% levy on accounts with over €100,000 the banks have been closed, and will remain closed at least until Tuesday next week. Cash points have remained open, although are sometimes empty and as far as I have found cards have still been accepted in shops.

Life as I see it at least is continuing pretty much as normal as we wait to see what will happen. I think it has now been announced that the levy will be only on accounts with more than €100,000 athough the news changes so much I can't even begin to keep up!

Reading in the English press and online, apparently residents are 'storming the supermarkets' stocking up on all they can before the money runs out,  ATMs are all empty, petrol stations are going to be closing and the British government are making plans to rescue 'stranded British expats'  Apparently the island is in chaos and we are all doomed!

There is an interesting split between residents here, those who are consumed with reading (and believing) every rumour and update online and those who are concerned but optimistic it will work out eventually, I'm with them  I have no idea what will happen and how things will be eventually fixed but I am fairly sure that ONE day however long it takes, they will be and the world will not end here and now. Cyprus has got over worse in her history


  1. Emma, very well written.

  2. Interesting - I've just watched the BBC news and thought of you as it would seem you are all doomed. I sincerely hope that is not the case and reading here how you are living the situation gives me hope that you are right and the BBC are making a mountain out of a molehill AGAIN.


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