Recently elected President of South Cyprus, Nicos Anastasiades says that his country has no intention of the leaving the European single currency.
“In no way will we experiment with the future of our country,” he said. The financial situation was “contained” following the 10 billion euro bailout, said a BBC news report.
Banks opened in the South on Thursday, after two weeks of closure; capital controls in place.
Suprisingly there was little disorder and a resigned public queued to get money out.
“We have averted the risk of bankruptcy,” Mr Anastasiades said on Friday. “The situation, despite the tragedy of it all, is contained.”
The President said that the South would not be leaving the eurozone but did accuse its members of making “unprecedented demands that forced Cyprus to become an experiment”.
Foreign Minister Ioannis Kasoulides said on Thursday that such controls could gradually be lifted over the course of the month.
But many economists predict the controls could be in place for much longer.