Cyprus moves to impose capital controls on banks
NICOSIA (Reuters) - The Cypriot government submitted a bill to parliament on Thursday giving the finance minister or central bank governor the right to impose capital controls on banks.
"The purpose of this law is, in case of an emergency for purposes of public order or security, to assign powers to the (Finance) Minister, or the (Central Bank) governor to take and impose temporary restrictive measures, including restrictions on capital controls," said the bill, a copy of which was seen by Reuters.
Parliament was due to sit on Thursday evening.
(Reporting by Michele Kambas; Writing by Matt Robinson; editing by Ron Askew)
- Tweet this
- Share this
- Digg this
- Tesco scraps profit outlook as accounting black hole deepens
- Hungary plans new tax on Internet traffic, public calls for rally
- UKIP on course to win second parliamentary seat - poll
- Canada's parliament attacked, soldier fatally shot nearby |
- Canada PM vows crackdown after capital shocked by fatal attacks |