Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Banks Reopen Cautiously In Cyprus

NICOSIA, Cyprus (UPI) — Authorities in Cyprus said they would maintain tight control on money transfers as the banks reopened on Thursday after nearly two weeks.

Banks were shut down for a routine holiday, but officials kept banks closed for 12 days through the ups and downs of securing a $13 billion bailout from the European Commission, the International Monetary Fund and the European Central Bank.

Officials imposed caps on withdrawals from bank accounts at $383 for individuals and at $3,900 for anyone leaving the country, Voice of America reported.

The New York Times said credit account withdrawals are capped at $6,400 per month.

Officials are trying to prevent a run on Cypriot banks, as larger accounts in the country’s troubled banks could be taxed 40 percent or more to help pay for the bailout.

Security at banks, which opened at noon, was tight and bank employees appeared grim as they prepared to deal with irate account holders, who lined up 50-deep outside of some bank entrances, the Times said.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “Banks Reopen Cautiously In Cyprus”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.