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Medieval map of Nicosia. Brzeski: 'very likely controls will remain in place for at least a month' (Photo: Wikipedia)

Cyprus becomes first ever euro-country to impose cash controls

Cyprus will become the first ever eurozone country to impose capital controls when its stricken banks open for business at noon local time Thursday (28 March).

Payments out of the country and cheque cashing will be suspended as part of emergency controls unveiled on Wednesday night by the Cypriot government.

For its part, the European Central Bank flew in extra supplies of bank notes to cope with an expected upsurge in withdrawals.

The temporary controls, which will see Cy...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Medieval map of Nicosia. Brzeski: 'very likely controls will remain in place for at least a month' (Photo: Wikipedia)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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