Cyprus to reopen banks, impose capital controls


NICOSIA (Reuters) - Cyprus trucked out cash for its banks on Wednesday night to prepare them to reopen to a siege by anxious depositors, with tough controls imposed on the use of currency to avert a bank run as a result of its harsh rescue deal.

The Central Bank said banks would open their doors at midday (10:00 a.m. British time) on Thursday after nearly two weeks when Cypriots could get cash only through limited ATM withdrawals, while the government hashed out the rescue to stave off financial ruin.

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