Cautious banks reopen in Greek Cyprus

Banks in Greek Cypriot administration have been re-opened on Thursday. Banks had been close for the past 12 days as part of restructuring measures after an agreement was reached with the EU and the IMF. People rushed into the banks as soon as they were opened again. There are long lines of people in front of the banks as the branches receive only three customers at a time. Police took tight security measures around banks. People are not allowed to make transactions over 5,000 euro. Drawing money was limited to 300 euro. Closed banks have caused a big difficulty in domestic trade in Greek Cypriot side.