Capital controls have been in place since March (Photo: Petros3)

Cyprus sets out plan to end capital controls

Cyprus has announced a roadmap to eventually lift capital controls in the eurozone country, but the process could take some years.

The finance ministry Thursday (8 August) laid out a four-step plan by the end of which capital will be able to move freely both inside and outside Cyprus.

"Cypriot authorities are committed to removing the restrictive measures and ensuring free movement of capital, as soon as conditions allow," said the ministry.

The eurozone's first ever capital...

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