Early Start's new website

Head to http://www.cnn.com/shows/early-start for your news.

 

 

 

March 28th, 2013
07:36 AM ET

Ivan Watson: Cyprus banks reopen under tight security and strict 'draconian' measures, but 'situation's pretty calm'

FROM CNNMONEY:

For the first time since the euro was launched on Jan 1, 1999, a member country has restricted how much money individuals and companies can take across its borders.

The tiny island nation put the extensive measures in place to prevent a run on its banks as they reopened around noon local time (6 a.m. ET) for the first time since March 16.

Cypriots have been queuing at cash machines since then as it became clear that deposits would be raided as part of a bailout by the European Union and International Monetary Fund.

READ MORE: Cyprus banks to reopen with strict cash limits


Filed under: bailout • Money • Stocks
soundoff (No Responses)

Post a comment


 

CNN welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.