Cyprus banks remain closed to avert run on deposits

03-25-2013 • Reuters

The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday - and even then subject to capital controls to prevent a run on deposits.

1 Comments in Response to Cyprus banks remain closed to avert run on deposits

Comment by Powell Gammill

Entered on: 3/25/2013 8:23:40 PM

Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief

Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced.

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