'60% levy' possible in Cyprus

Savers with the Bank of Cyprus could be given shares in the bank, a source close to the negotiations has told the news agency Reuters as some initial details of the euro bail out are released.

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Financial restrictions facing Cypriots after bailout

The type of financial restrictions Cypriots may face after their country's bailout are beginning to emerge. One of the country's newspapers, Kathimerini, reports:

  • Cheques can be deposited, but not cashed
  • Non-cash payments abroad and cash exports outside Cyprus not allowed
  • Credit, debit and money transfers out of Cyprus are limited to €5,000 per month per person
  • No more than €3,000 per person can be taken out of the country per trip abroad

It's reported the measures will apply for a restricted period, but ministers can amend the time period.

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