My supposition here is that these two banks were the basic commercial banks for the island.
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Sandy was able to breach the brilliant engineering of The Bathtub, not by causing the walls to fail, but instead by causing the sea to rise and overwhelm the banks of the Island of Manhattan.
Banks in the Mediterranean island nation will remain closed until Thursday.
The German press is beginning to report that certain people, forewarned of the looming closure of the banks, decided to whisk their money off the island and out of the affected banks.
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They suspected that half of the deposits in the island's banks were held by Russians with much of the money being laundered.
Parliament has approved restructuring the island's banks, among other moves.
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Big depositors in the country's two biggest banks lost money and the island remains financially cut off from the rest of the euro zone because of capital controls intended to stop deposit flight.
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If no "Plan B" can be found by Monday, the ECB may cut off funding to the island's banks, it said in a statement, triggering their collapse and possibly the country's exit from the euro.
The department has altered its policy on the collection of plastic, allowing most types of packaging to be deposited at the island's bring banks.
For its cheerleaders, such as Paul Krugman, an American Nobel laureate in economics, Iceland is a model for another north Atlantic island ruined by bad banks: Ireland.
When Chiang Kai-shek's Nationalists were driven out of China, they adopted interventionist economic policies in Taiwan and nationalized dozens of major businesses-such as the Bank of Taiwan, still one of the island's biggest banks.
The island's two largest banks, the Bank of Cyprus and Popular Bank, were bailed out following massive losses.
Greek banks are heavily exposed to Cyprus, an island which makes up around six percentage points of Greece's total export volume.
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State-owned banks, which take up almost half of the island's banking assets, are likely off the radar because of the political sensitivity, Mr. Guo said.
The 51 banks registered there account for more than half the economic activity of the Island.
The government shut down banks until later this week while lawmakers wrangled over how to keep the island nation from bankruptcy.
Plans are being formulated to establish a system of food banks across the Isle of Man, with the aim of helping the island's "hidden hungry".
Bett Padgett, who heads the Outer Banks Lighthouse Society, which petitioned the federal government for funds to restore Bodie Island's once-crumbling lighthouse, warns of solar flares knocking out satellites.
Since President Ronald Reagan "liberated" this island from socialism with Operation Fury in 1983, this 133-square-mile island has embraced capitalism with a vengeance, handing out licenses to more than 400 international banks.
The risks are too high for the banks, while the returns are too low for venture capitalists, and the tiny size and illiquidity of single island stockmarkets makes it difficult for them to cash out again.
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