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Cyprus central bank to impose capital controls

Elena Becatoros and Menelaos Hadjicostis, Associated Press

From left, French Finance Minister Pierre Moscovici, Managing Director of the International Monetary Fund Christine Lagarde and German Finance Minister Wolfgang Schaeuble speak with each other during an emergency eurogroup meeting in Brussels on Sunday, March 24, 2013. The EU says a top official will chair a high-level meeting on Cyprus in a last-ditch effort to seal a deal before finance ministers decide whether the island nation gets a 10 billion euro bailout loan to save it from bankruptcy. (AP Photo/Geert Vanden Wijngaert)

NICOSIA, Cyprus (AP) -- Cyprus' president says the central bank will impose some limits on bank transactions on Tuesday, when most of the country's financial institutions reopen for the first time in over a week.

All banks except the Bank of Cyprus and Laiki are due to reopen on Tuesday morning. President Nicos Anastasiades did not specify what limitations would be imposed on transactions.

He said it was a "very temporary measure, which will gradually be relaxed."

The country's banks have been closed while politicians set up a plan to secure funding for an international bailout, after lawmakers rejected an initial scheme that would have seized up to 10 percent of people's accounts.

A deal securing the bailout was reached early Monday.