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On March 28, having remained closed for 12 days of bargaining over the €10bn bailout negotiated by the government with the troika of international lenders (EU, , ECB, IMF) and Russia, the Cypriot banks finally reopened.
Business resumed in atmosphere of calm, reportsthe Financial Mirror in Nicosia. In order to prevent a bank run, Cypriot authorities have imposed limits on withdrawals that will continue to apply for at least a week, and probably longer if the crisis continues.
Restrictions on capital transfers have also been imposed, reports the daily:
…the Cyprus Central Bank will keep a register of all transactions for more than €5,000 and individually verify all transactions for more than €200,000. People leaving the island will not be allowed to take away more than €1,000 per day.
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