Cyprus to ease capital controls ‘in a careful way,’ says FinMin

The Cypriot government will be “careful” about a further easing of capital controls while aiming to act “as soon as possible,” Finance Minister Haris Georgiades said on Tuesday.

Cyprus has already lifted some banking curbs and faces calls from European partners to do more.

“A further loosening will have to be done in a careful way and in a way that is based on the imprint and the examination of the situation as it forms in our banking system,” Georgiades told reporters in Brussels during a gathering of European Union finance ministers.

“It’s not with timetables exactly. At any rate, as soon as possible.”