World News

Mar 28, 2013 7:23 AM by ASSOCIATED PRESS

Cyprus banks re-open; limits on transactions

NICOSIA, Cyprus (AP) - Banks in Cyprus have reopened to customers for the first time in nearly two weeks, with customers now able to access their accounts, albeit with strict restrictions on transactions.

Large lines had formed outside some bank branches, particularly those of Laiki, which is to be restructured, before they opened at noon Thursday. Some Laiki branches in central Nicosia had not opened exactly on time, with customers waiting patiently outside.

Banks have been shut since March 16 while politicians wrangled over how to come up with enough funds to qualify for an international bailout. That agreement was finally reached in Brussels early Monday.

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