Cyprus reopens banks under tight restrictions.

 Stiff capital controls announced Wednesday designed to cut off the flow of money were in place as Cypriot banks reopened on thursday28th . Banks have been shut for nearly two weeks as the government negotiated a bailout package with the EU and became the first eurozone country to impose losses on bank depositors. Cash withdrawals are limited to €300 per day, time deposits cannot be withdrawn until maturity, and check-cashing is banned. Additionally, anyone leaving the country may take only €1K euros with them, down from €3K in an early draft of the restrictions.