Government
This Is What It Looks Like to Stop a Bank Run Before It Starts
After two weeks of chaos, Cyprus opens its banks again. But borrowing was tightly controlled.
Cypriots have had a rough couple of weeks. Banks were shuttered two weeks ago; the government has since been forced to accept an EU rescue package of some $10 billion Euro in order to avoid bankruptcy.
The banks reopened today under tight controls to prevent a run on deposits. And while lines stretched around the block, the waiters stayed calm. As Reuters reports: