Cyprus expects to fully lift the regime of financial restrictions on its banks in "about a month," Cypriot Foreign Minister Ioannis Kasoulides said.
"A number of restrictions will be lifted and gradually, probably over a period of about a month according to the estimates of the central bank, the restrictions will be fully lifted," Kasoulides told reporters.
Cyprus president Nicos Anstasiades has taken a 25 percent pay cut as the country's financial woes continue. Restrictions on cash withdrawals are also expected to continue for some time.
Europe Correspondent Emma Murphy reports:
Cyprus president Nicos Anstasiades has tweeted his thanks to the Cypriot people who he says have acted with "maturity and collectedness" as the country's banks reopened after being closed for almost two weeks, amid the country's financial crisis:
Customers are queuing to get inside Laiki bank in Lakatamia, just outside Nicosia. The bank delayed its opening today due to "technical reasons". Customers are now being allowed inside in small groups.
Banks in Cyprus are being reopened today after being closed for almost two weeks, amid the country's financial crisis. Customers are being restricted on the amount of cash they can withdraw from their accounts.
Laiki Bank opens in Lakatamia after delay. Four people are being allowed in at a time.
The Bank of Cyprus opens its doors. Customers are being allowed in in smallgroups:
Laiki Bank staff at its branch in Lakatamia, just outside Nicosia, have just put a sign on the door saying "we can't open we have a technical problem." It is not clear yet if it is a short delay or a software problem.
Laiki is the bank in the worst shape over here. The queue of 20 are very restrained.
Cyprus banks have opened their doors in central Nicosia after almost a two week closure.