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]
