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Cypriot capital controls starting to ease

Cyprus took another step on Friday toward ending the eurozone’s only capital controls, imposed last March to avoid a run on the banks during bailout negotiations.

Finance Minister Haris Georgiades issued a decree abolishing the banks’ ability to automatically renew fixed-term deposits.

Customers may now have access to the full value of their money at the time of expiry, or even cash in earlier with a penalty.

[AFP]

ekathimerini.com , Friday February 21, 2014 (19:37)  
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