On Sunday 24 March 2013, Cyprus agreed to an aid package of �10 billion from the European Union and the International Monetary Fund.
As a result of the agreed deal, the banking sector of Cyprus will undergo a restructuring as follows:
Banks have been closed for more than a week and are expected to open tomorrow. However, capital controls are expected to be in place in order to avoid a run on the banks.Back to News
EUCED - European Network for Economic Cooperation and Development is a European Economic Interest Grouping (EEIG), as per EU Council Regulation # 2137/85, established for European and worldwide economic and development operations. As well as, the status of an European Business Association.Read more