G4S Readies Guards as Cypriot Banks Prepare to OpenSubmitted by Bob-45 on Wed, 03/27/2013 - 17:26
Published: Wednesday, 27 Mar 2013 | 4:19 PM ET
Cyprus reopens its banks on Thursday while limiting withdrawals, banning cheques and curbing the use of Cypriot credit cards abroad, among measures imposed to avert a bank run after it agreed a tough rescue deal with international lenders.
The Central Bank said banks would open their doors at midday (6 a.m. EST) on Thursday after nearly two weeks when Cypriots could only get cash through limited ATM withdrawals.
A central bank official said Cypriots would be allowed to withdraw no more than 300 euros ($380) a day.
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