Thursday, July 10, 2014

Cyprus capital controls may end by early 2014

October 16. 2013 5:36PM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Cyprus' president says all restrictions on money transfers and withdrawals for all banks that were imposed in the immediate aftermath of the country's painful financial rescue could be lifted by early next year.

Nicos Anastasiades says that he expects all restrictions on domestic business transactions to be removed by this year's end.

He said in an interview with private Sigma TV station on Wednesday that remaining limits on transferring money abroad could be eliminated by early 2014, depending on how well the lifting of domestic restrictions goes.

The restrictions were put in place to prevent a bank run after Cyprus' March bailout agreement with its European partners and the International Monetary Fund.

The deal forced uninsured depositors in the country's two biggest banks to take major losses on their savings.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds