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Cyprus banks reopen, under tight controls

World News

28-03-2013 | 06:02

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Cyprus banks reopen, under tight controls

Banks in Cyprus opened their doors on Thursday for the first time in almost two weeks, with tight controls on transactions to prevent a run on deposits after the island was forced to accept a stringent EU rescue package to avert bankruptcy.

In central Nicosia, queues of at least a dozen people had formed outside branches of the country's two biggest lenders, Bank of Cyprus and Cyprus Popular Bank, also known as Laiki.

REUTERS

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