Cyprus passes two of the measures necessary to secure a €10B bailout. Notably, the Cypriot...

|By:, SA News Editor

Cyprus passes two of the measures necessary to secure a €10B bailout. Notably, the Cypriot parliament has approved the use of capital controls, which may limit the amount depositors can withdraw once banks reopen. The measure may also restrict fund transfers, limit debit card transactions, and ban redemptions of time deposits, among other possibilities according to The Guardian.