“Cyprus is lifting the last remaining capital controls it imposed on its banking system during the financial crisis of 2013.  Cyprus was the only crisis-hit eurozone country to restrict capital transfers, as it faced a run on the banks.  The controls were eased in January.  There will no longer be a monthly cap of €20,000 (£15,000; $22,000) on transfers by individuals to foreign banks, or of €10,000 for travellers moving money out of the country. Cyprus received a €10bn bailout from the EU and International Monetary Fund (IMF) after its biggest banks nearly collapsed in March 2013 because of huge losses on their Greek investments.”

http://www.bbc.com/news/world-europe-32194092

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy