Most Cypriot banks to reopen Tuesday

NICOSIA, Cyprus (AP) — All banks in Cyprus except the two largest in the country are to reopen for business Tuesday, more than a week after they shut down to prevent a drain on deposits by customers worried they would lose part of their savings.

The decision to reopen the banks at 8:30 a.m. Tuesday morning was announced after a deal was clinched in the early hours of Monday in a Brussels meeting between the 17-nation eurozone’s finance ministers. Cyprus agreed to slash its oversized banking sector and inflict hefty losses on large depositors in troubled banks to secure the 10 billion euro ($13 billion) bailout.