Cyprus keeps limits on money flows

Published May 9, 2013 2:43pm ET



NICOSIA, Cyprus (AP) — Cyprus will keep limits on money transfers and withdrawals until it is more confident that its ailing banks will not face a run, the central bank’s chief said Thursday.

Panicos Demetriades said the Central Bank of Cyprus wants to eliminate these controls as soon as possible, but it has to first make sure that trust in the banks has recovered sufficiently.

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