Cyprus banks reopen with strict restrictions




 
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March 28th, 2013  
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Topic: Cyprus banks reopen with strict restrictions


By Karolina Tagaris and Michele Kambas NICOSIA (Reuters) - Cypriots are expected to descend in their thousands on Thursday on banks, which reopen with tight controls imposed on transactions to prevent fleeing depositors from cleaning out the vaults in a catastrophic bank run. The east Mediterranean island fears a stampede at banks almost two weeks after they were shut by the government as it negotiated a 10 billion euro ($12.78 billion) bailout package with the European Union to escape financial meltdown. ...




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