Share “Cyprus capital controls may end by early 2014”

Cyprus capital controls may end by early 2014

Published on NewsOK Modified: October 16, 2013 at 4:33 pm •  Published: October 16, 2013

NICOSIA, Cyprus (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.


  1. 1
    ONEOK Partners to invest up to $100 million to expand capacity in Permian Basin
  2. 2
    Report: Thunder signs Josh Huestis to 4-year deal
  3. 3
    Thunder TV analyst Nancy Lieberman expected to become Kings assistant coach
  4. 4
    Dodgers send Olivera to Braves in three-way trade
  5. 5
    MTV's 'Real World' sets casting call in Oklahoma City
+ show more


× Trending news Article