Cyprus Bailout Problems Send Worried Consumers To ATMs

By PYMNTS | March 24, 2013

The European Central Bank has given Cyprus until today, Monday, March 25, to pull together $6 billion in earnest money needed to secure emergency liquidity aid from the EU and avert a bank collapse, ATM Marketplace reported, adding that rumors about a possible default sent Cypriots scrambling to ATMs for cash.

“I have been withdrawing as much money as possible since rumors began at the weekend,” lawyer Kyriacos Panagos told the Cyprus Mail. “As far as I’m aware, one of our banks will be forced to close so I felt the best option would be to withdraw as much as I can.”

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