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Cyprus won't leave the euro, says president

Friday, Mar 29, 2013 - 01:15

Mar. 29 - President Nicos Anastasiades says the situation is under control in Cyprus and his country has no intention of leaving the euro. Sunita Rappai reports.

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Cypriots arrive early to queue for cash - one day after banks reopen in the cash-strapped country. The re-opening after nearly two weeks has mainly gone smoothly, though this bank manager called for calm as doors opened. Tight controls were imposed on banks, and will remain in force longer than expected, after the government was forced to accept a tough 10 billion euro EU bailout package to avoid bankruptcy. On Friday, President Nicos Anastasiades told an audience of civil servants the situation was now under control. He emphasised that Cyprus had no intention of leaving the euro zone and said the government would implement the necessary reforms. But he criticised Cyprus's EU partners for making unprecedented demands and forcing bank depositors to bear some of the costs of the rescue package. Anastasiades clinched the last-ditch bailout in Brussels five days ago but has faced a backlash from angry Cypriots at the high price that came with it. Amongst the measures, a finance ministry decreee which limits cash withdrawals to no more than 300 euros a day and bans the cashing of cheques.

Cyprus won't leave the euro, says president

Friday, Mar 29, 2013 - 01:15

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