×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Cyprus | crisis | capital | controls

Cyprus Central Bank to Impose Capital Controls

Monday, 25 March 2013 03:29 PM

Cyprus' president said the central bank will impose some limits on bank transactions on Tuesday, when most of the country's financial institutions reopen for the first time in over a week.

All banks except the Bank of Cyprus and Laiki are due to reopen on Tuesday morning. President Nicos Anastasiades did not specify what limitations would be imposed on transactions.

He said it was a "very temporary measure, which will gradually be relaxed."

The country's banks have been closed while politicians set up a plan to secure funding for an international bailout, after lawmakers rejected an initial scheme that would have seized up to 10 percent of people's accounts.

A deal securing the bailout was reached early Monday.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Cyprus,crisis,capital,controls
118
2013-29-25
Monday, 25 March 2013 03:29 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved