Report: The bank that’s been frozen by the European Union says it will not be reopening until 2018

Report: The bank that’s been frozen by the European Union says it will not be reopening until 2018

The European Union is freezing the bank accounts of the European Central Bank, citing the risk that the institution could become insolvent.

In a statement to Reuters, the ECB said it had decided to freeze all of the bank’s accounts.

It is the latest move by the EU to punish the bank for its role in the financial crisis, which caused the biggest economic meltdown in history.

The bank has been unable to service the billions of euros it has lent to banks and other institutions as the crisis has continued.

The European Commission on Tuesday warned the bank it was facing insolvency and the country it operates in, Slovakia, is also threatening to close its doors.

The central bank said in a statement that it had also been asked to suspend all trading in the bank.

Back to Top