Cyprus Banks Reopen After Two Weeks

Capital controls curb panic.

Cyprus’s banks opened for the first time in almost two weeks, with new rules curbing access to cash preventing an initial panic to withdraw deposits.

“We expected much more people,” said Argyros Eraclides, manager of a Bank of Cyprus Plc branch in the Stavrou area of Nicosia. “Fortunately there are only some people who needed cash for the day, but customers reacted fantastically. We expected some people to be more aggravated.”

Chaos Fear

“I will not go to the bank today because I’m afraid that it will be chaos,” said Maria Charalambous, a grocery store owner. “You do not know who will be behind you in the line and you could end up getting robbed. I will wait and see.”

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