There has been capital flight out of Cyprus but this has been limited in the past week thanks to the closure of banks in the Mediterranean island nation, German Finance Minister Wolfgang Schaeuble said on Monday.

Schaeuble, speaking at a news conference in Berlin, declined to provide figures on how much money had been pulled out of Cyprus in recent days or to say when banks would reopen, saying this was an issue for the European and Cypriot central banks to assess.

(Reporting by Noah Barkin)