NICOSIA, Cyprus – Cypriot businesses were under increasing strain to keep running on Tuesday after financial authorities stretched the country’s bank closure into a second week amid fears that depositors will rush to drain their accounts.
All but two of the country’s largest lenders had been due to reopen Tuesday, after being shut since March 16 while politicians figured out how to raise the funds necessary for Cyprus to qualify for an international bailout.
Source: AP. Read full article. (link)