Amanda Rivkin

Cyprus Banking Crisis

  • NICOSIA, CYPRUS. Bank of Cyprus employees, several in tears, swarm the Central Bank of Cyprus after marching from the Bank of Cyprus to demand the resignation of the chief of the Central Bank of Cyprus on March 26, 2013. Banks in Cyprus remain closed for now until Thursday morning as many fear for their life savings and their jobs.
  • NICOSIA, CYPRUS. Bank of Cyprus employees, several in tears, swarm the Central Bank of Cyprus after marching from the Bank of Cyprus to demand the resignation of the chief of the Central Bank of Cyprus on March 26, 2013. Banks in Cyprus remain closed for now until Thursday morning as many fear for their life savings and their jobs.
  • NICOSIA, CYPRUS. Men are seen marching in the Cypriot National Day military parade on March 25, 2013. Late last night, the IMF, the EU and the Cypriot government reached a deal to rescue the Cypriot banking sector and economy by imposing capital controls, but many are fearful of what the week may have in store as Cypriots look to withdraw their savings from the bank and much of Greek Cyprus has converted to a cash only economy.
  • NICOSIA, CYPRUS. Girls are seen walking the streets outside a cabaret on March 26, 2013. As the Cypriot banking sector collapses, the country's economy has been labeled a {quote}casino economy{quote} by unsympathetic officials in Brussels and Berlin; Nicosia's downtown has a seedy side of after-hours prostitution and cabaret.
  • NICOSIA, CYPRUS. Young people are seen watching the speech of Nicos Anastasiados as he addresses the nation following a bailout deal with the IMF and the EU at the Flocafe on March 25, 2013. Despite the eleventh hour bailout deal, many Cypriots still face great uncertainty as the two biggest banks remain closed until Thursday March 28 and an unspecified tax will be levied against savings deposit accounts worth more than $130,000.
  • NICOSIA, CYPRUS. Foreign domestic workers from the Philippines enter Tripoli Park on March 24, 2013. As the IMF, the EU and Cyprus hammer out a deal in Brussels to save the Cypriot banking sector, known for its abundance of offshore accounts, many in Cyprus have withdrawn as much as they can from their accounts at ATMs and are fearful for what the coming week might hold; domestic workers say that many of their friends have been sent home to their native countries as their bosses struggle to pay them.
  • NICOSIA, CYPRUS. A man is seen outside the Cypriot finance ministry on March 27, 2013. As Cypriot banks prepare to reopen Thursday March 28, a series of capital controls restricting withdrawals, transactions and transfers of money have been imposed in Cyprus - the first time such controls have been imposed in the Eurozone.
  • LARNACA, CYPRUS. People stand on the new break line being used to extend the shoreline out into the sea as it is under construction on March 29, 2013.
  • LIMASSOL, CYPRUS. Young people cruise the main coastal road mid-morning on March 29, 2013.
  • NICOSIA, CYPRUS. Young people who marched in the Greek and Cypriot National Day military parade socialize afterwards on March 25, 2013. Late last night, the IMF, the EU and the Cypriot government reached a deal to rescue the Cypriot banking sector and economy by imposing capital controls, but many are fearful of what the week may have in store as Cypriots look to withdraw their savings from the bank and much of Greek Cyprus has converted to a cash only economy.
  • NICOSIA, CYPRUS. A view of Nicosia and the Turkish-occupied northern half of the city and Cyprus is seen from the roof of the Holiday Inn on March 25, 2013. The mountain on the Turkish side has the flag of the Turkish Republic of Northern Cyprus emblazoned on its side with stones, which lights up at night and is visible from across the border in the Greek-speaking southern half of Cyprus.
  • NICOSIA, CYPRUS. Bank of Cyprus employees, several in tears, swarm the Central Bank of Cyprus after marching from the Bank of Cyprus to demand the resignation of the chief of the Central Bank of Cyprus on March 26, 2013. Banks in Cyprus remain closed for now until Thursday morning as many fear for their life savings and their jobs.
  • NICOSIA, CYPRUS. (L-r) Anthoulis Myrianthous, 56, a former banker at the Bank of Cyprus, Doros Limbouris, 35, a civil engineer, Panayiotis Markou, 44, an employee at the Bank of Cyprus and George Tsountas, 44, a civil engineer, sit around and play the card game pilota at the Cafe Kala Kathoumena in the old city since their jobs are on hold until the banks reopen on March 26, 2013.
  • NICOSIA, CYPRUS. Stavros Agriotis, a Cypriot financial services executive, is seen in his home office on March 28, 2013.
  • NICOSIA, CYPRUS. A man carries bottles out from the bar of a nightclub as a generator is seen powering the club on March 24, 2013. As the IMF, the EU and Cyprus hammer out a deal in Brussels to save the Cypriot banking sector, known for its abundance of offshore accounts, many in Cyprus have withdrawn as much as they can from their accounts at ATMs and are fearful for what the coming week might hold; the energy sector has been suffering for two years as well due to a blast at a power plant two years ago.
  • NICOSIA, CYPRUS. Cypriots demonstrate outside the presidential palace on March 27, 2013. As Cypriot banks prepare to reopen Thursday March 28, a series of capital controls restricting withdrawals, transactions and transfers of money have been imposed in Cyprus - the first time such controls have been imposed in the Eurozone.
  • LARNACA, CYPRUS. Russian women collect their beach blankets beside the Roman fortifications by the seaside on March 29, 2013.
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