Cyprus lets euro zone's first capital controls go quietly

April 6, 2015 12:42 PM

55 0

NICOSIA, April 6 (Reuters) - Cyprus freed capital flows on Monday, ending two years of controls that set an unwanted precedent for the euro zone at the height of the bloc's debt crisis.

The Mediterranean nation became the first and, to date, the only euro zone member to impose controls, acting to stem a flight of capital from its banks in March 2013.

Also read: Private equity firm Northstar to buy Singapore-listed Innovalues for $239 mln

Read more

To category page