Cyprus Hires 180 British Security Guards To 'Control' Bank Re-Opening

Tyler Durden's picture




 

The security firm that became infamous for its Olympics snafu is responsible for the 'safety' of Cypriot banks and their money as they prepare to open tomorrow. G4S is the world's largest security-provider, and has been helping banks in the last week by sending out teams (with police protection) to restock ATMs. However, an additional 180 staff have been hired to, "be based outside branches... to control queues," adding (rather optimistically), "if there are any queues." It seems the extra security is, "basically it is to make the banking people feel safe and the customers as well." As ekathimerini reports, while the banks have been closed, businesses have been calling on the security company to find places to keep their cash and asking for guards and alarms to protect their assets. They are also using G4S as an intermediary to bring money from overseas to pay wages and suppliers, and drawing on its systems for shipping cash to provide guarantees for payments abroad, effectively using it as a kind of bank. G4S local boss added, "people have had time to digest the agreement so maybe there won’t be that scenario whereby people run to the banks to withdraw." Oh we are sure...

 

Via ekathimerini,

A British security firm that transports cash for Cypriot banks is working round the clock, sending teams out with police protection to stock bank machines and readying guards for when banks reopen on Thursday.

 

The world’s largest security firm, G4S, moves cash and will provide guards for Cypriot lenders including Bank of Cyprus and Cyprus Popular Bank, the two biggest, which are to be combined and see large depositors’ accounts frozen under a bailout agreed at the weekend.

 

...

 

"Demand is greater than we can provide... We haven’t closed since the crisis started," he told Reuters. "I’ve never seen anything like it in terms of what is going on from a security perspective. I would say the workload has quadrupled because the whole system has changed."

 

...

 

"People have had time to digest the agreement so maybe there won’t be that scenario whereby people run to the banks to withdraw," he said.

 

...

 

They are also using G4S as an intermediary to bring money from overseas to pay wages and suppliers, and drawing on its systems for shipping cash to provide guarantees for payments abroad, effectively using it as a kind of bank.

 

The next big test will come on Thursday when 180 G4S guards will be deployed at bank branches to help handle an anticipated surge of customers demanding cash and answers.

 

...

 

"The staff will be based outside branches and are there to control queues, if there are any queues," he said. "We will be in contact with the police. Basically it is to make the banking people feel safe and the customers as well."

 

...

 

The firm achieved notoriety for admitting just weeks before the start of last year’s London Olympics that it could not provide a promised 10,400 venue guards, hitting its profit and reputation.

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Wed, 03/27/2013 - 13:18 | 3381849 FLUSA.com
FLUSA.com's picture

How does one invest in the growing Militia business?

Wed, 03/27/2013 - 13:18 | 3381853 Divided States ...
Divided States of America's picture

180 is not enough, unless its PER bank branch..

secondly, those cops are stupid because Cyprus is broke, no?

Wed, 03/27/2013 - 13:20 | 3381860 Stonedog
Stonedog's picture

Divided - you beat me to it.  I was about to post the same comment...

Wed, 03/27/2013 - 13:23 | 3381878 The Big Ching-aso
The Big Ching-aso's picture

I don't know why but I kinda think these guys aren't gonna be carrying just night sticks like the Bobbies.

Wed, 03/27/2013 - 13:22 | 3381873 fonzannoon
fonzannoon's picture

Maybe the DHS was smart enough to realize since the US exports nothing we can now be the largest exporter of hollow points to foreign governments who need to provide security for "bank re openings".

Wed, 03/27/2013 - 13:24 | 3381895 ParkAveFlasher
ParkAveFlasher's picture

Shit's gettin' real.  DHS totally hoarding forward demand.  Internal, or external. 

My question is, why not make the buys through the Armed Forces, which would go largely unnoticed by the media?  Or, do the Regulars and the Feds not get along so much these days?

Wed, 03/27/2013 - 13:26 | 3381907 fonzannoon
fonzannoon's picture

call me an eternal optomist but I hope the armed forces will be the trigger mechanism that jams when they go to pull it.

By the way I have not been on here much today but did ZH show this with Santelli?

http://www.cnbc.com/id/100597242

Wed, 03/27/2013 - 13:36 | 3381945 kito
kito's picture

wow, fonz, you sparked an idea for a movie............DHS vs. military....all out civil war....country begins to break down...internal chaos ensues.........bruce willis will play the 5 star general leading the country to freedom from the orwellian and suppressive DHS, whose vicious leader will be played by herself janet napolitano.............................lets go 50/50 on the production costs............whaddya say????????

Wed, 03/27/2013 - 13:39 | 3381968 fonzannoon
fonzannoon's picture

I just blew my budget on a composter.

I am working on a documentary of a guy who used to be in finance then lost his mind and dedicated himself to growing the perfect squash.

Wed, 03/27/2013 - 13:45 | 3381991 Dr. Engali
Dr. Engali's picture

Doing an autobiography eh? Better be careful...my wife started looking at me differently when I put in a compost pile.

Wed, 03/27/2013 - 13:46 | 3382002 fonzannoon
fonzannoon's picture

Your wife looks at you!

( i'm jealous)

Wed, 03/27/2013 - 13:51 | 3382044 Tebow
Tebow's picture

Next thing you know you crazy fuck will have backyard chickens! 

Wed, 03/27/2013 - 14:02 | 3382124 catacl1sm
catacl1sm's picture

Hey! I have compost, squash, chickents, silver, and guns! Whad'ya gonna do about it?

Wed, 03/27/2013 - 14:03 | 3382129 fonzannoon
fonzannoon's picture

send you my resume.

Wed, 03/27/2013 - 15:11 | 3382506 Rogue Trooper
Rogue Trooper's picture

I'll get a short wave radio later today.....

IF YOU ARE READING THIS... YOU ARE THE RESISTANCE BITCHEZ!

Wed, 03/27/2013 - 14:39 | 3382325 css1971
css1971's picture

A composter is a box. How could you blow your budget on one?

Wed, 03/27/2013 - 14:44 | 3382356 fonzannoon
fonzannoon's picture

I'm from long Island we pay $100 for our boxes at home depot. what does everyone else do?

Wed, 03/27/2013 - 17:17 | 3383102 sluggo
sluggo's picture

Use a hammer.

Wed, 03/27/2013 - 13:43 | 3381982 Dr. Engali
Dr. Engali's picture

I think Bruce is better suited portraying a reluctant leader. He doesn't quite fit the role of a stiff neck boot licking bureaucrat. Otherwise the idea seems good....count me in.

Wed, 03/27/2013 - 15:09 | 3382498 Rogue Trooper
Rogue Trooper's picture

+1000

Crowd sourcing bitchez!

BTW someone else thought of this so check it out... nice trailer "Grey State"

http://www.graystatemovie.com/

Wed, 03/27/2013 - 13:38 | 3381956 Urban Redneck
Urban Redneck's picture

Because then the NWO fascists at the UN would start getting worried that they might be on the wrong side of a hollow-point bullet traveling at supersonic velocity, and then they start dragging out things like the Geneva Conventions

Wed, 03/27/2013 - 14:17 | 3382206 RSBriggs
RSBriggs's picture

Up arrow for "Geneva Conventions" versus hollow-points, but do have to note that handgun rounds don't generally travel at supersonic speeds.  Except maybe 22TCM...

http://www.thetruthaboutguns.com/2011/11/foghorn/ria-introduces-first-production-22-tcm-firearm/

Wed, 03/27/2013 - 14:58 | 3382382 sluggo
sluggo's picture

Beg to differ on your "handgun rounds don't generally travel at supersonic speeds" comment.  You must not shoot much!  MOST handgun rounds DO exceed the speed of souond.  In fact, you have to purchase special "subsonic" 9mm rounds to make a suppressed handgun even a little less loud.  The suppressor can muffle the sound of the rapidly expanding gasses, but can do nothing about the sonic boom/"crack".

Speed of sound @ 68 degrees: 1,126ft/sec. http://en.wikipedia.org/wiki/Speed_of_sound

List of common handgun rounds and their muzzle velocities: http://www.chuckhawks.com/handgun_power_chart.htm

 

Note that the "JHP" are the hollow point rounds, and most have ADDED powder (+P) to give them more velocity and thus more force on impact.  Note also that there are some JHP rounds that are a few hundred ft/sec less than the speed of sound.  These are mostly meant to be used in suppressed handguns/carbines.  You sacrifice a few ft/lbs at impact for the lessened noise on firing.

Wed, 03/27/2013 - 15:22 | 3382571 Rogue Trooper
Rogue Trooper's picture

Nice post... don't forget a .22 rimfire will take down a fallow deer-sized mammal or at least disable /scare the shit out of it with careful shot placement (effective range limits).  High velocity .22 (stingers et.al) are good out to 100 yards. 1,640 fps and a 32 grain bullet. Skeptical? shoot yourself in the leg and see: a) how you feel; b) the extent to which your mobility is impaired;  c) Pat yourself on the back for the knowledge gained from a useful field experiment.

Back up, that's all, use what tools you have and know there limitations.

Wed, 03/27/2013 - 13:50 | 3382030 Colonel Jessup
Colonel Jessup's picture

One million up arrows for this one Fonz...

Wed, 03/27/2013 - 13:35 | 3381943 lotusblue
lotusblue's picture

Yes they're typical dumbasses that's for sure!

G4S-the same security company that ENTIRELY flubbed security for the Olympics! How quickly they forget how British military had to be brought in.

 

G4S = FARCE.

G4S = Political CRONIES of British Elites !

Let the burning and Pillaging commence.

Wed, 03/27/2013 - 13:20 | 3381859 Hippocratic Oaf
Hippocratic Oaf's picture

Great.

They're gonna highly object to their threats in a 'fierce British accent' while clutching their massive night sticks!

Fail

Wed, 03/27/2013 - 13:26 | 3381904 yabyum
yabyum's picture

STOP! or I will say STOP again!

Wed, 03/27/2013 - 13:49 | 3382029 Headbanger
Headbanger's picture

And we will say nee to you again if you do not apease us

http://www.youtube.com/watch?v=0e2kaQqxmQ0

 

And bring us a shrubbery!

Wed, 03/27/2013 - 13:22 | 3381874 jdelano
jdelano's picture

Bitcoins...LOL.  This pretty much seals it...CNBC totally onboard now.  And....it's gone....

 

http://www.cnbc.com/id/100597242

 

Wed, 03/27/2013 - 13:25 | 3381892 FLUSA.com
FLUSA.com's picture

Bitcoin is such a joke...I rather have my crappy USD (yes I still have one)  then a shitty Bitcoin

Wed, 03/27/2013 - 13:37 | 3381885 TruthInSunshine
TruthInSunshine's picture

Come celebrate the Cypriotic post-banking holiday grand re-opening with us!

There will be food, fun & frivolity for all, with clowns (sponsored by GS4), sausages (shoved right up your asses), fun rides (in the back of armored vans), and even late afternoon fireworks (so please leave your own at home)!

Wed, 03/27/2013 - 13:54 | 3382059 Colonel Jessup
Colonel Jessup's picture

One of the funniest posts i've ever seen on ZH!!

Wed, 03/27/2013 - 14:39 | 3382324 WillyGroper
WillyGroper's picture

Find out the supplier for the FEMA coffins.

Wed, 03/27/2013 - 14:46 | 3382361 Northeaster
Northeaster's picture

"How does one invest in the growing Militia business?"

http://www.cerberuscapital.com/

Your own mercenary group included:

http://www.dyn-intl.com/

Wed, 03/27/2013 - 15:01 | 3382443 WillyGroper
WillyGroper's picture

Cerberus---Focus on point of execution------bwhaaaaaaaaa

Freudian slip?

Wed, 03/27/2013 - 15:25 | 3382586 ebear
ebear's picture

Time to do an IPO.  (initial police offering)

Wed, 03/27/2013 - 13:19 | 3381855 moonman
moonman's picture

We should outsource HMS to them

Wed, 03/27/2013 - 13:21 | 3381862 fonzannoon
fonzannoon's picture

""People have had time to digest the agreement so maybe there won’t be that scenario whereby people run to the banks to withdraw," he said."

He continued...."but I am a fucking idiot so you have to take that into consideration"

Wed, 03/27/2013 - 13:23 | 3381886 insanelysane
insanelysane's picture

I spit water all over my keyboard.

The same agreement which froze every bank account except for the ones that weren't frozen.

Wed, 03/27/2013 - 13:21 | 3381865 jubber
jubber's picture

Should have used a German Securit firm, to add alittle interest to the proceedings

Wed, 03/27/2013 - 13:20 | 3381866 Schmuck Raker
Schmuck Raker's picture

WTF? I thought they outlawed queues as part of their capital controls.

Wed, 03/27/2013 - 13:20 | 3381867 Freewheelin Franklin
Freewheelin Franklin's picture

Long moltovs. 

Wed, 03/27/2013 - 13:20 | 3381869 BanksterSlayer
BanksterSlayer's picture

What are they paying the guards with? And how many angry Cypriots does it require to take down 180 Rent-A-Cops?

Wed, 03/27/2013 - 13:27 | 3381910 insanelysane
insanelysane's picture

British pounds or gold.

Wed, 03/27/2013 - 14:27 | 3382263 BeaverFever
BeaverFever's picture

180 cops x 6 donuts = 1080 donuts at .50 cents = $540

Wed, 03/27/2013 - 13:21 | 3381872 Diplodicus Rex
Diplodicus Rex's picture

180 staff may have been hired but I wonder how many will actually turn up....

Wed, 03/27/2013 - 13:22 | 3381875 Unprepared
Unprepared's picture

Apple Store used to hire more security per square foot for their product launches.

 

Good ol' days.

Wed, 03/27/2013 - 13:23 | 3381884 NoWayJose
NoWayJose's picture

Quick - invest in Cypriot mattresses - it looks like there will be a lot of them worth 100,000 Euros soon...  As people pull out their money and the government restricts the subsequent movement of that money, people will try to hide it in their homes.  I see gangs of thugs raiding homes -- and yes, unprotected businesses -- in search of cash!

Wed, 03/27/2013 - 13:51 | 3382047 BanksterSlayer
BanksterSlayer's picture

The Godfather Mattresses Montage in Lego

 

http://youtu.be/CKXoZFbpHWc

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