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Cyprus lifts all capital controls

03/04/2015 11:59
The lifting of all capital controls as from next Monday was just announced by the president of the Republic, Nicos Anastasiades.

Speaking at a press conference, the president said that "as from next Monday, the last restrictions on capital movement concerning transactions and capital transfer abroad will be lifted".

"The lifting of the remaining restrictions signals the final restoration of confidence in our banking system" he added.

"From today the positive prospect for raising investments in full trust and confidence conditions is reinforced. The ability of banks to raise capital and to finance safely the economy is boosted, with a positive impact on the support of citizens, businesses and development" he concluded.