Cyprus' President Nicos Anastasiades.
Cyprus' President Nicos Anastasiades.

‘No decision on reopening Cyprus banks’

By SAPA Time of article published Mar 25, 2013

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Nicosia - No decision has yet been taken on whether commercial banks in Cyprus will open as scheduled on Tuesday after a 10-day lockdown imposed on fears of a run on deposits, the Central Bank said.

Contacted by AFP, a Central Bank official said there had been “no decision yet” on whether banks would reopen, following a bailout agreement for the debt-hit island reached with the eurozone earlier Monday.

The Bank meanwhile announced the appointment on Monday of an administrator to wind up second largest lender Laiki under a painful restructuring plan that was a condition of the eurozone bailout. - Sapa-AFP

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