ECONOMY

Athens bourse temporarily suspends trading in Cypriot banks

The Athens Stock Exchange temporarily suspended on Tuesday trading in the shares of Bank of Cyprus and Cyprus Popular Bank.

The decision comes after the Cypriot bourse also suspended trading in the lenders’ shares as Cyprus decides on whether to adopt a deposit tax as part of its bailout.

Nicosia has ordered a bank holiday until Thursday to allow time for politicians to decide on the one-off levy.

Cypriot banks in Greece are due to be absorbed by a Greek lender.