Cyprus becomes first ever euro-country to impose cash controls

Cyprus will become the first ever eurozone country to impose capital controls when its stricken banks open for business at noon local time Thursday (28 March).

Payments out of the country and cheque cashing will be suspended as part of emergency controls unveiled on Wednesday night by the Cypriot government.

For its part, the European Central Bank flew in extra supplies of bank notes to cope with an expected upsurge in withdrawals.

The temporary controls, which will see Cy...