Cyprus: Financial crisis 'contained,' says president

Cyprus: Financial crisis 'contained,' says president
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The Cypriot banking system may be in turmoil, but customers appear to be remaining calm in Nicosia.

The island’s banks reopened on Thursday after an almost two-week shutdown. But cash withdrawals are being capped, to prevent people draining their accounts.

President Nicos Anastasiades said on Friday that the financial crisis had been “contained” in the wake of a tough EU bailout deal. He also said that Cyprus has no intention of leaving the European single currency.

But bank depositors are being forced to bear some of the cost of the rescue plan.

“I believe that on the first of April the Troika will come and tell us that this was a joke – and then everything will be fine,” said one man in Nicosia.

Anastasiades has also hit out at partners in the 17-nation currency bloc over the bailout deal. He accused them of making “unprecedented demands”.

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