Cyprus announces it is introducing capital controls that will last only "a matter of weeks" - but what are they and why does Cyprus need them?
A banking collapse on the Mediterranean island of Cyprus has been avoided, but the bailout plan is going to be painful for many bank customers there. Stavros Zenios, a professor of finance at the University of Cyprus in Nicosia, outlines the plan.
Tight capital controls in Cyprus could last for up to a month, the country's foreign minister says, on the day crisis-hit banks re-opened to customers.
An agreement has been reached in Brussels on a $10bn bailout to prevent the collapse of the banking system in Cyprus.
On Friday, lawmakers in Cyprus are set to vote on a bailout plan that would tax all bank deposits by 6.25 percent. Stavros Zenios is a professor of finance at the University of Cyprus in Nicosia and is one of many people whose savings would be affected if the measure is adopted.
The European Union drove a pretty tough bargain on the Cyprus bailout deal. As a result some bank costumers in Cyprus are having to swallow some pretty bitter medicine.
The BBC looks at the deal that has been struck between Cyprus, the EU and the IMF, and considers the implications for the Cypriot economy and the eurozone.
Cyprus, like its Mediterranean neighbor Greece, needs a financial bailout. But a plan by the European Union to partially pay for the bailout with a tax of up to 10 percent on customers' bank deposits sparked protests and a run on ATMs in Cyprus. And that's got the rest of Europe worried about contagion.
Cypriots are now bracing themselves for economic turmoil and a long haul to recovery following the 10bn-euro bailout deal, the BBC's Chris Morris reports.
Uncertainty in Cyprus Friday about the bank bailout deal, where banks are closed and ATMs emptied out. The Guardian correspondent Miriam Elder is in Cyprus' second largest city, Limassol, home to a large Russian expat community, and sometimes referred to as LimassolGrad.
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