Cypriot President Nicos Anastasiades on Monday said that the country's central bank has placed restrictions on bank withdrawals, adding that the measure would only be temporary, dpa reported.
"The central bank will apply restrictions, but this will only be temporary until the situation normalises and returns to calm," he said.
"Cyprus was on the brink of collapse but with tough negotiations we reached a solution to avoid the collapse of the country," he said of his country's bailout agreement.