ECONOMY

EU commissioner Barnier says Cyprus capital controls will only last a few days

Any capital controls in Cyprus will not last long, the EU’s head of financial regulation said on Monday, saying he expected their approval by the European Parliament later this week.

“This is a restriction on movement that may only last a few days,» the EU’s Internal Market Commissioner Michel Barnier told

a news conference in Brussels.

Such measures would be aimed at containing the problems of Cypriot banks.

[Reuters]