Cyprus has no intention of leaving euro, says president

The president of Cyprus said yesterday the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe’s currency union for “experimenting” with the island’s fate.

Conservative leader Nicos Anastasiades spoke a day after banks reopened following an almost two-week shutdown imposed as the country raced to clinch a rescue package from the European Union.

Officials slapped firm limits on transactions to avert a run on deposits by worried Cypriots and wealthy foreign investors. In the end the reopening of the banks was largely quiet on Thursday, with Cypriots queuing calmly for the €300 they were permitted to withdraw.