Reuters: Regulatory News: Any capital controls in Cyprus to be brief -EU's Barnier

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Any capital controls in Cyprus to be brief -EU's Barnier Mar 25th 2013, 11:08 BRUSSELS, March 25 | Mon Mar 25, 2013 7:08am EDT BRUSSELS, March 25 (Reuters) - Any capital controls in Cyprus will not last long, the EU's head of financial regulation said on Monday, saying he expected their approval by the European Parliament later this week. "This is a restriction on movement that may only last a few days," the EU's Internal Market Commissioner Michel Barnier told a news conference in Brussels. Such measures would be aimed at containing the problems of Cypriot banks.

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