What would you do if the United States declared a bank holiday for over a week?
NICOSIA, Cyprus — Banks in Cyprus will not open before Tuesday at the earliest as government officials try to find a new plan to stave off financial ruin, the central bank’s spokeswoman said Wednesday.
Aliki Stylianou said the banks would remain shut for another two days, Thursday and Friday. Monday is a national bank holiday in Cyprus.
The cash-strapped lenders have been closed since Saturday, when Cyprus said it would raid bank deposits to help fund its international bailout package, to avoid a bank run.
The Parliament this week rejected the plan to take a portion of bank deposits, leaving the country’s bailout plan in doubt.
Cypriot officials are looking for alternative ways to scrounge up the 5.8 billion euros ($7.51 billion) that the country’s euro area partners and the IMF expect in order to loan another 10 billion euros.