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Cypriot central bank to meet tonight on capital controls

FXstreet.com (San Francisco) - In an effort to avoid the money's outflow, the Cypriot central bank will meet tonight in an extraordinary session to introduce capital restrictions according to the Cyprus' president Anastasiades.

The president also said, in a recent speech, the capital controls will be a temporary measure but difficult measures will be implemented in the following days. Meanwhile, Cypriot banks will open on Tuesday except Bank of Cyprus and Laiki.

Earlier on the day, Jeroen Dijsselbloem, head of the Eurogroup of eurozone finance ministers, affirmed that the Cypriot plan would be used as template for another countries in the eurozone. Investors were afraid for more levys and capital restrictions across the union.

Renewed jitters on Cyprus and fears of contagion to other indebted sovereigns in the bloc periphery have been weighting on EUR after the increased vulnerability seen in Cypriot deposits.

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