• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

See More

Cyprus bank curbs could last 30 days

Mar 28 2013 19:58 Reuters, AFP

A Cypriot college student holds a placard during a protest in Nicosia against a bailout for the financially crippled island. (Patrick Baz, AFP)

Related Articles

Strict controls as Cyprus banks reopen

Cyprus banks to remain shut

Only two banks to reopen in Cyprus

Govt: Cyprus deal heralds new beginning

Cyprus bank chief sacking deepens chaos

Cyprus secures bailout, avoids bankruptcy


Nicosia - Tight capital controls slapped on Cyprus banks under onerous conditions demanded by eurozone lenders for a bailout could be lifted within a month, Foreign Minister Ioannis Kasoulides said Thursday.

"Expect restrictions to be lifted within a month if everything goes as well as it did today," Kasoulides told a news conference, referring to a calm reopening of banks after a 12-day lockdown aimed at preventing a run on deposits.

The restrictions, which include a limit on cash withdrawals of €300 a day and a €1 000 ceiling on money being taken out by travellers, were gazetted to last for a week but the central bank has said they would thereafter be lifted gradually, depending on the response of deposit holders.

Echoing President Nicos Anastasiades, Kasoulides praised the "mature and responsible behaviour of of the citizens of Cyprus and others at the banks".

"Everything has functioned in order," the minister said.

Anastasiades earlier tweeted his thanks to the people of the eastern Mediterranean island for their "maturity" after they formed orderly queues to access banks that had been shuttered since March 16.

As the feared bank run failed to happen, the cabinet appointed a panel to investigate whether criminal activity led to the Cyprus meltdown.

Kasoulides, asked whether the probe could lead to arrests, prosecutions and convictions, replied: "It is quite possible that this will be the case."

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

cyprus  |  economy


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:


Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.

Top 10 richest musicians of all time

Check out the gallery to find out who they are!


Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote