Greek Cypriot banks to reopen on Thursday

All Greek Cypriot banks closed for the past 11 days as part of restructuring measures after an agreement was reached with the EU and the IMF will reopen on Thursday at 12.00 noon. A press spokesperson with the central bank of the Greek Cypriot administration, Aliki Stilyanu stated that all financial institutions will be open on Thursday between 12.00 and 18.00 hours. "The banks will conduct their routine activities. However, an individual will be able to withdraw a maximum of 300 euros in a single day," Stilyanu said. Meanwhile, Europe has sent five billion euros cash money to the Greek Cypriot administration in order to meet the financial needs of banks.