Closure fears spark run on Popular Bank in Cyprus
Anxious Cypriots queued outside Popular Bank ATM machines to withdraw their cash as fears rose that the country's financial crisis would mean its second-largest lender closes for good.
Anxious Cypriots queued outside Popular Bank ATM machines to withdraw their cash as fears rose that the country's financial crisis would mean its second-largest lender closes for good.
"It's all about cash now. Only a gambler will take cheques in this situation," said retired government official Phaedon Vassiliades as he withdrew money from the bank's ATM at Nicosia's Ledra Street tourist hot spot on Thursday.
Behind the wheelchair-bound Vassiliades, a queue of apprehensive men and women waited to claw back as much as they could, while tourists took pictures on mobile phones and cameras.
"There are rumours that Laiki Bank [the Greek name for Popular Bank] will never open again. I want to take out as much as I can," Vassiliades said.
There are rumours that Laiki Bank [the Greek name for Popular Bank] will never open again. I want to take out as much as I can
"I have nearly €60,000 (HK$601,000) as savings in this bank and some credit societies. I don't know if I will ever get it back now. This is what I had and now it seems it is all gone."