http://news.linktv.org Link TV News Videos (Filtered by topics: Bank run) en-us Thu, 28 Mar 2013 04:25:00 -0700 Copyright 2011 Link Media, Inc. http://news.linktv.org/videos/raw-video-crowds-seek-cash-as-cyprus-banks-finally-reopen?start=0 Security was tight and the crowds were large but mostly patient as Cypriot banks opened their doors for the first time in nearly two weeks. Strict controls are in place to pre<span style="color: #222244; font-family: sans-serif; font-size: 13px; background-color: #f2f5f7;">vent people from taking large sums out of the country and cash withdrawals have been limited to $383 per person per day.</span> Thu, 28 Mar 2013 04:25:00 -0700 http://news.linktv.org/videos/raw-video-crowds-seek-cash-as-cyprus-banks-finally-reopen Cyprus, Economy of Cyprus, Bank of Cyprus, 2012–2013 Cypriot financial crisis, European sovereign debt crisis, Bank run, Central Bank of Cyprus, Bank, Raw video, Associated Press Security was tight and the crowds were large but mostly patient as Cypriot banks opened their doors for the first time in nearly two weeks. Strict controls are in place to prevent people from taking large sums out of the country and cash withdrawals have been limited to $383 per person per day. http://news.linktv.org/videos/anger-protests-as-cyprus-bailout-deal-creates-uncertain-future?start=0 Banks in Cyprus remain closed despite a bailout deal the country's newly elected government signed with international creditors. Protests have followed the agreement which called for Popular Bank, the country's second biggest bank, to be closed down and the imposition of austerity measures. At the biggest lender, Bank of Cyprus, the chairman has handed in his resignation and the head office is being occupied by the bank staff. Al Jazeera's Simon McGregor Wood reports from the capital, Nicosia. Tue, 26 Mar 2013 10:59:00 -0700 http://news.linktv.org/videos/anger-protests-as-cyprus-bailout-deal-creates-uncertain-future 2012–2013 Cypriot financial crisis, Bank of Cyprus, Cyprus, Bailout, Economy of Cyprus, International Monetary Fund (IMF), European Union, Protest, Eurozone, Nicosia Banks in Cyprus remain closed despite a bailout deal the country's newly elected government signed with international creditors. Protests have followed the agreement which called for Popular Bank, the country's second biggest bank, to be closed down and the imposition of austerity measures. At the biggest lender, Bank of Cyprus, the chairman has handed in his resignation and the head office is being occupied by the bank staff. Al Jazeera's Simon McGregor Wood reports from the capital, Nicosia. http://news.linktv.org/videos/first-domino-to-fall-cyprus-just-hours-from-bankruptcy?start=0 The Cypriot government says the next few hours will determine the future of the country. Politicans are to debate how to stop the country from going bankrupt. The European Central Bank says they have until Monday to figure out how to raise more than $7bn, before lenders cut emergency funding. Al Jazeera's Jonah Hull reports from Nicosia. Fri, 22 Mar 2013 09:18:00 -0700 http://news.linktv.org/videos/first-domino-to-fall-cyprus-just-hours-from-bankruptcy 2012–2013 Cypriot financial crisis, Cyprus, European sovereign debt crisis, Bailout, Economy of Cyprus, Bankruptcy, Politics of Cyprus, Bank of Cyprus, Central Bank of Cyprus, Nicos Anastasiades The Cypriot government says the next few hours will determine the future of the country. Politicans are to debate how to stop the country from going bankrupt. The European Central Bank says they have until Monday to figure out how to raise more than $7bn, before lenders cut emergency funding. Al Jazeera's Jonah Hull reports from Nicosia. http://news.linktv.org/videos/cyprus-banking-freeze-continues-as-crisis-deepens?start=0 In Cyprus, banks are set to stay closed all week: until next Tuesday in fact, as the hunt continues for a bailout which Cypriots will accept, to stave off bankruptcy. Wed, 20 Mar 2013 14:27:00 -0700 http://news.linktv.org/videos/cyprus-banking-freeze-continues-as-crisis-deepens Cyprus, Economy of Cyprus, Bailout, European Union, International Monetary Fund (IMF), Eurozone, European sovereign debt crisis, Bank run, Nicos Anastasiades, Global Financial Crisis In Cyprus, banks are set to stay closed all week: until next Tuesday in fact, as the hunt continues for a bailout which Cypriots will accept, to stave off bankruptcy. http://news.linktv.org/videos/fear-and-fury-cyprus-financial-crisis-threatens-future-of-eurozone?start=0 Cypriots are holding their breath for a make or break bailout decision amid warnings of a slide into bankruptcy or crash out of the euro. Cyprus has postponed a vote on a planned one-off tax on depositors' savings accounts central to a eurozone bailout of the country's troubled banking system until March 19. Al Jazeera's Peter Sharp reports from Nicosia. Mon, 18 Mar 2013 12:52:00 -0700 http://news.linktv.org/videos/fear-and-fury-cyprus-financial-crisis-threatens-future-of-eurozone Cyprus, European sovereign debt crisis, Economy of Cyprus, Bailout, Nicos Anastasiades, Eurozone, Nicosia, Bankruptcy, Savings account, Bank run Cypriots are holding their breath for a make or break bailout decision amid warnings of a slide into bankruptcy or crash out of the euro. Cyprus has postponed a vote on a planned one-off tax on depositors' savings accounts central to a eurozone bailout of the country's troubled banking system until March 19. Al Jazeera's Peter Sharp reports from Nicosia. http://news.linktv.org/videos/greek-elections-three-things-you-need-to-know?start=0 Ahead of elections on June 17, CFR's Sebastian Mallaby highlights three ramifications of a potential Greek exit from the euro. How will a Greek exit impact Greece? What will a Greek exit mean for European banks? And what will be the implications for the euro? Thu, 14 Jun 2012 16:02:00 -0700 http://news.linktv.org/videos/greek-elections-three-things-you-need-to-know Greek general election, 2012, Greek government-debt crisis, Greece, Bank run, Economy of Greece, European sovereign debt crisis, Euro, Austerity, Eurozone, European Union Ahead of parliamentary elections in Greece on June 17, CFR's Sebastian Mallaby highlights three ramifications of a potential subsequent Greek exit from the euro. How will a Greek exit impact Greece? While some economists believe that a Greek exit from the euro will be favorable for the Greek economy, Mallaby disagrees. "Leaving the euro would also trigger very high Greek inflation and that would quickly erode any competitiveness benefit that you get from a weaker currency, and along with the inflation there will probably be a lot of civil unrest," he says, which could hurt Greece's main export sector -- tourism. What will a Greek exit mean for European banks? If Greece leaves the euro, the devaluation of the drachma may result in bank runs as other Europeans take their money out of national banks in favor of safer Dutch or German banks, Mallaby says. This is already happening slowly, especially in Spain, Mallaby says, "and would accelerate hugely if the Greeks did leave." What will be the long-term implications for the euro? If European leaders manage a "double act" of letting Greece exit while protecting the rest of the eurozone, Mallaby says the result would nonetheless be "catastrophic" in the long-term. "Now there would be a precedent that a country like Greece can leave and it can be okay for the rest of Europe," he says, adding that there will not be an incentive for rich countries like Germany to bail out peripheral countries in a future crisis. http://news.linktv.org/videos/greek-banks-may-be-only-days-from-collapse?start=0 As uncertainty continues about Greece's future in the Eurozone ahead of the upcoming election, one expert warns that the flood of cash being removed from the nation's banks means they may not even survive past the weekend. Thu, 14 Jun 2012 08:03:00 -0700 http://news.linktv.org/videos/greek-banks-may-be-only-days-from-collapse Greek general election, 2012, Greece, Greek government-debt crisis, Bank run, European sovereign debt crisis, Austerity, Eurozone, Economy of Greece, Global Financial Crisis, Syriza As Greeks prepare to vote for the second time this year, there is uncertainty about whether the resulting government will back the massive austerity measures necessary to secure the country's future in the Eurozone. This is fueling a massive run on deposits in Greek banks, which one expert warns means the nation's banks may not survive the weekend. http://news.linktv.org/videos/billion-dollars-disappearing-from-greek-banks-every-day?start=0 It is arguably one of the largest bank raids in the history of Greece. Analysts say up to 800 million euros (USD$1bn) are being taken from the country's banks on a daily basis as people react to fears the economy could leave the eurozone. Wed, 13 Jun 2012 12:13:00 -0700 http://news.linktv.org/videos/billion-dollars-disappearing-from-greek-banks-every-day Greek general election, 2012, Greek government-debt crisis, Greece, European sovereign debt crisis, Eurozone, Economy of Greece, Drachma, Bank run, Panic buying, ATM It is arguably one of the largest bank raids in the history of Greece. Analysts say up to 800 million euros (USD$1bn) are being taken from the country's banks on a daily basis. From cash machines accounts have been slowly drained as people react to fears the economy could leave the euro zone and the drachma restored as the country's currency following Sunday's election. It is not just cash it includes wire transfers and investments into other money markets. The drop in deposits has been dramatic. In two years up until May this year 50 billion euros (USD$63bn) have left accounts in Greek banks. In the last week its reported the pace of withdrawing money has risen sharply. Some of the money, claim retailers is being used by people to stock up on non perishable food while sales in almost all other goods have seen a huge drop. The head of the retail federation condemned the panic buying saying people are terrified at the prospect of returning to the drachma and believe filling their cupboards will help. It is over the top he said and does not mean Greece will escape the crisis. http://news.linktv.org/videos/scared-europeans-withdraw-cash-from-troubled-banks?start=0 The European Central Bank has asked financial institutions across Europe to stand behind their struggling counterparts in countries such as Greece and Spain. But, while banks have an incentive to support their rivals, will Europe's savers be as patient? Thu, 31 May 2012 13:58:00 -0700 http://news.linktv.org/videos/scared-europeans-withdraw-cash-from-troubled-banks European sovereign debt crisis, European Central Bank, Bank run, Anti-austerity protests, Economy of Spain, Economy of Greece, Spain, Greece, Austerity, Financial institution The European Central Bank has asked financial institutions across Europe to stand behind their struggling counterparts in Greece, Spain and other countries caught in the euro debt crisis. Banks have an incentive to support their rivals. But will Europe's savers be as patient and keep their money where it is? VOA's Dominic Laurie reports. http://news.linktv.org/videos/greek-caretaker-government-sworn-in?start=0 A caretaker government has been installed in Greece as the country prepares for a new round of elections. The technocrat interim government is not supposed to make big decisions, but events may force actions, especially in light of the continuing low-level run on the banks. Thu, 17 May 2012 17:41:00 -0700 http://news.linktv.org/videos/greek-caretaker-government-sworn-in Greece, Caretaker government, Greek general election, 2012, Euro, Bank run, Eurozone, Karolos Papoulias, European Central Bank, European sovereign debt crisis, ABC News (Australia) A caretaker government has been installed in Greece as the country prepares for a new round of elections. The technocrat interim government is not supposed to make big decisions, but events may force actions, especially in light of the continuing low-level run on the banks. Hundreds of millions of euros have already been withdrawn from distressed Greek banks with fears that the country could be forced from the Eurozone. http://news.linktv.org/videos/krugman-eurozone-could-fall-apart-in-a-matter-of-months?start=0 Nobel Prize-winning economist Paul Krugman warns the current bank run in Greece could spiral into the end of the Eurozone, while France's new finance minister reiterated that the new socialist government will not ratify the EU's fiscal pact for greater austerity. Thu, 17 May 2012 09:12:00 -0700 http://news.linktv.org/videos/krugman-eurozone-could-fall-apart-in-a-matter-of-months Eurozone, Paul Krugman, European sovereign debt crisis, European Union, France, Greece, Greek general election, 2012, Bank run, Nobel Prize, Euro Nobel Prize-winning economist Paul Krugman warns the current bank run in Greece could spiral into the end of the Eurozone. "It is really quite shocking," Krugman says. "I hate to sound apocalyptic." Meanwhile, France's new finance minister has reiterated that the country's new socialist government will not ratify the European Union's fiscal pact calling for greater austerity.