Cyprus Banks to Stay Closed until Tuesday

Banks in debt-hit Cyprus will stay closed until at least Tuesday, a Central Bank official told Agence France Presse, after the authority issued a decree stating banks will not open their doors on Thursday and Friday.

With Monday a scheduled bank holiday, the official said there was no prospect of banking resuming before Tuesday.

Cyprus banks have now been closed since Saturday to prevent a run on accounts after the government clinched a deal for a bailout that slapped a one-time levy of up to 9.9 percent on bank deposits.

The measure was rejected by parliament on Tuesday, plunging the island into a fresh economic crisis.