Crisis Averted, Most Cypriot Banks Will Reopen Tuesday

NICOSIA, Cyprus (March 25, 2013)--Cyprus' central bank says all banks in the country except the two biggest will reopen for business on Tuesday, more than a week after they shut down to prevent a run.

Laiki and Bank of Cyprus will remain closed until Thursday, and a withdrawal limit from ATMs of $130 a day will also remain in place until then, the bank said.

Financial institutions in the country have been shut since March 16 as Cyprus and its international lenders struggled to reach agreement on a plan to raise funds so the island could qualify for a bailout package.


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