FBME employees block DGS
Employees of FBME Bank in Cyprus are on strike since the administrator fired the majority of the employees. Employees want the administrator to honor the contractual obligations the bank has towards them. To make sure their demands are met, the administrator and the central bank are excluded from access to the administration of FBME. This exactly describes the current problem. If the administrator does not have access to the files, he cannot make a payout to the depositors under the DGS agreement. To be continued.