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Cyprus sees capital controls lasting a month: Minister

Published on Mar 29, 2013 12:29 AM
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NICOSIA (REUTERS) - Cyprus expects to fully lift a regime of capital controls on its banks in "about a month",Cypriot Foreign Minister Ioannis Kasoulides said on Thursday, after lenders opened their doors for the first time in almost two weeks to avert a run on deposits.

"A number of restrictions will be lifted and gradually, probably over a period of about a month according to the estimates of the central bank, the restrictions will be fully lifted," Mr Kasoulides told reporters.

The government initially said the controls would remain in place for a week, subject to review.