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Cyprus readies capital controls to avert bank run

Blog by Brad Herman | March 27th, 2013

Cyprus is finalizing capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders.

Cypriots have taken to the streets of Nicosia in their thousands to protest against a bailout deal they fear will push their country into an economic slump and cost many their jobs.