Transaction limits staying in place after bailout
(NEWSER) – Cypriots hoping to get their hands on what is still technically their money are going to have to wait at least another couple of days. The government has ordered the country's banks, which have been closed since March 15, to stay closed until Thursday to prevent a run on deposits following the last-minute EU bailout deal.
People can still make ATM withdrawals, with a daily limit of $130 at the two biggest banks, but the machines often run out of cash and many businesses have stopped accepting debit or credit cards, the AP reports. Meanwhile, Bank of Cyprus chairman Andres Artemis has resigned this morning, reports Reuters.
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