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Cyprus' banks to remain closed until Thursday

March 25, 2013

NICOSIA, Cyprus -- Cyprus has extended the closure of its banks for two more days -- until Thursday -- a sudden postponement that comes after the country's leaders spent days struggling to come up with a plan to raise the money needed to secure an international bailout. Banks in the country have already been closed for more than a week to prevent a run on deposits. All except the country's two largest lenders had been due to open Tuesday morning after the country clinched an eleventh-hour deal with the 17-nation eurozone and the International Monetary Fund to provide Cyprus with a bailout.

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