ECONOMY

Cyprus banks closed on Tuesday and Wednesday

Cypriot banks will remain closed on Tuesday and Wednesday at least, while the island’s Capital Market Commission will convene on Tuesday morning to discuss whether the Nicosia bourse will open later in the day.

State broadcaster confirmed the government’s decision for the extension of Monday’s bank holiday to Tuesday and Wednesday ahead of the debate in Parliament on Tuesday evening regarding the revised package of measures toward a 10-billion-euro bailout.

On Tuesday at 8.45 a.m. the board of the Capital Market Commission is meeting to examine whether the bourse should open, according to commission chairwoman Dimitra Kalogirou, but given that banks will not open, it is highly likely the stock market will also remain shut at least for Tuesday.

Kalogirou added she is in constant communication woth the Greek Capital Market Commission regarding the trading of Cypriot lenders’ stocks in the Athens bourse as well.