Seeking Alpha

Markets get jittery again with Cyprus' Popular Bank restricting ATM withdrawals to...

Markets get jittery again with Cyprus' Popular Bank restricting ATM withdrawals to €260/customer, according to Reuters. The bank has enough liquidity to cover the next few hours, reports Bloomberg, citing an unnamed government official. The country's central bank chief is set to make a statement soon. S&P 500 -0.7%, Nasdaq -1%
Comments (9)
  • Kyle Spencer
    , contributor
    Comments (1234) | Send Message
    BRAVO, EU/IMF! Well played, that.
    21 Mar 2013, 01:45 PM Reply Like
  • Roger C. Wren
    , contributor
    Comments (256) | Send Message
    I would not want to be involved in stealing a few billion dollars from the Russian mob. Not even.
    21 Mar 2013, 02:22 PM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (6177) | Send Message
    Cyprus fear ? , Reminds me of Iceland a while back,
    You didnt hear what happened in Iceland ? Oh,I thought so .. well after the dust settles same results here,
    Of curse no disrespect to Cypriots or Icleanders.


    Will it really affect how many burgers MCD sells ? Will Smartphone sales for AAPL & Samsung turn lower ?
    One man's disaster another man's opportunity.
    Just some random thoughts... Avoid the noise....
    21 Mar 2013, 02:27 PM Reply Like
  • jaych79
    , contributor
    Comments (504) | Send Message
    That's exactly right. I never understood the mentality of the herd.
    21 Mar 2013, 02:44 PM Reply Like
  • Ray Lopez
    , contributor
    Comments (1743) | Send Message
    But the herd is often right: Google "Wisdom of Crowds". At the top of the stock market in 2000, the majority of people thought the market was overvalued says a survey in Schiller's book Irrational Exuberance; however they wrongly thought that they would exit before the others--the Greater Fool theory. And bank runs are rational--after all, there's only enough money in most fiat money schemes for about 10% of depositors--first come, first served.
    21 Mar 2013, 03:29 PM Reply Like
  • blackswans
    , contributor
    Comments (155) | Send Message
    I've read the book. It is a good read.
    21 Mar 2013, 04:15 PM Reply Like
  • pfifla1
    , contributor
    Comments (535) | Send Message
    Cyprus is barely a freckle on the butt of the world economy.


    hell a lot of the money there is probably ill gotten gains anyways - think of it as a TAX!!
    21 Mar 2013, 03:08 PM Reply Like
  • cyrus trask
    , contributor
    Comments (170) | Send Message
    A .7% decline...yawn... is not exactly "blood in the streets", but this appears to be about all the concern a "jittery" market can muster these days.
    21 Mar 2013, 03:25 PM Reply Like
  • alan.greenscam
    , contributor
    Comments (353) | Send Message
    Cyprus...... used again as another test dummy, they tried this scam last year to no avail, the smartest thing they can do is default, as Greece, Ireland, Italy, Portugal, Spain etc and put that ECB, IMF, World Bank, BIS and Germany in it's place, the Euro was created for easier global monetary dominance, it's not happening and the sooner every country defaults and gets back to it's own currency, the better off the world is........ all this over $10 billion Euro's lol, gimme a break...... !!!!
    21 Mar 2013, 03:34 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs