From their support site:
- June 21, 2011 -
We have been receiving reports of severely delayed withdraws to countries in the SEPA region. It appears that the volumes of transactions being handled by our bank in France is exceeding our daily limits, which seems to be holding things up. We are working to get these limits raised both for our daily/weekly/monthly volumes. We apologize for any delays in processing.
Does that seem plausible?
Up until the last sentence, yes. That should have been instructions on how to use some other means of money transfer, and a statement that Mt. Gox was absorbing the fees for the alternative method, since their failure to make proper banking arrangements was causing others not to receive payment.
In the last few weeks, Mt. Gox has blamed Liberty Reserve, some unnamed bank in France, Dwolla, and their previous owner for delays in transferring money out. That's why I suspect they don't really have the cash.