The country’s draft capital controls include export limits on euros and a ban on cashing cheques.
Economy and Finance
Cyprus to bring in capital controls
There are reports coming out that Cyprus is to impose capital controls including a weekly limit of money that can be withdrawn by private citizens, a ban on all cheques being cashed and export limits for the Euro.
Michalis Sarris Cypriot finance minister has confirmed that those with more than 100,000 Euros in the bank could lose 40% of their cash but that deposits below that will not be hit.
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