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Cyprus bank restrictions may stay in force for one month


08:43, March 29, 2013

NICOSIA, March 28 (Xinhua) -- Cypriot Foreign Minister Ioannis Kasoulides said on Thursday he expects bank transaction controls to stay in force for about a month.

A decree published on Wednesday night said it would be in effect for seven days.

However, Kasoulides said things may change as things develop.

"Some restrictions may be lifted gradually, and will be probably lifted fully in a period of about one month, based on estimates of the Central Bank," Kasoulides told journalists after a meeting of the Council of Ministers.

President Nicos Anastasiades has issued a statement expressing his "thanks and deep gratitude" to the people of Cyprus for the patience and calm way they behaved when banks opened after 12 days.

"This is a signal to all that the people want and are able to once again strengthen the economy and the banking system," Anastasiades said.

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