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Central Bank of Cyprus transfers money to bank branches

Thursday, March 28, 2013 - 00:33

March 28 - Security trucks are out in force in Cyprus, transferring money from the country's central bank to bank branches as they open for the first time in two weeks. Rough Cut (no reporter narration).

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(ROUGH CUT ONLY - NO REPORTER NARRATION) Private security trucks were loaded up with money at the Central Bank of Cyprus early on Thursday (March 28). The money was going to Cypriot banks in preparation for branches reopening after two weeks. Cypriots are expected to descend in their thousands when the island's battered banks reopen at around 1000 GMT, though there will be tight controls on withdrawals or transfers to prevent depositors from cleaning out their vaults. The Mediterranean island fears a stampede at banks almost two weeks after they were shut by the government as it negotiated a 10 billion euro ($13 billion) bailout package with the European Union to escape financial meltdown.

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Central Bank of Cyprus transfers money to bank branches

Thursday, March 28, 2013 - 00:33