EU will monitor need to extend Cyprus capital controls

Published March 28, 2013

| Reuters

The European Commission said on Thursday it supported capital controls in Cyprus but said they should not be kept in place for too long, noting it would monitor the need to revise or extend them.

"The Commission will continue monitoring the need to extend the validity of or revise the measures," it said in a statement. "The Commission will insist at all times that any restrictive measures are strictly proportionate... and strictly limited in duration."

(Reporting by Robin Emmott; editing by Philip Blenkinsop)

URL

http://www.foxbusiness.com/news/2013/03/28/eu-will-monitor-need-to-extend-cyprus-capital-controls/