“Cyprus conceded on Thursday that tight capital controls would remain in force longer than expected as the island’s banks reopened for the first time after the government was forced to accept a tough EU rescue package to avoid bankruptcy.  The government initially said the controls would remain in place for a week, subject to review. Economists say they will prove hard to lift as long as the economy is in crisis.  To help the Cyprus banks weather the crisis, the European Central Bank flew in 5 billion euros ($6.4 billion) in cash overnight from Frankfurt, a German newspaper reported.”

http://www.reuters.com/article/2013/03/28/us-cyprus-parliament-idUSBRE92G03I20130328

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