Central bank governor finance minister on banks opening protest

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(26 Mar 2013) SHOTLIST • 1. Mid of protesters holding up placards (Greek and English) Go home Demetriades • 2. Close up of protesters • 3. Close up of placard (Greek and English) Demetriades Go home • 4. Mid of protesters holding up placards (Greek and English) Go home Demetriades outside conference • 5. Mid of protesters holding placards in Greek • 6. Wide crowd of protesters • 7. Central Bank Governor Panicos Demetriades sitting down at news conference • 8. Cutaway of media • 9. SOUNDBITE:(Greek) Panicos Demetriades, Central Bank Governor: • (Question: Is there a danger the banks won't open?) • No, super-human efforts are being made for the banks to open on Thursday. • 10. Cutaway of media • 11.SOUNDBITE: (English) Michalis Sarris, Cypriot Finance Minister: • I think so, I mean, nothing is a thousand percent certain, but we are working all confidently and very hard to make sure (the banks will open). I think every day that they are not open creates more uncertainty and more difficulties for people. So we would like to do our utmost to make sure that this goal that we have said will work. • 12. Pan of Bank of Cyprus • 13. SOUNDBITE: (English) Michalis Sarris, Cypriot Finance Minister: • We believe that some sort of capital controls that will moderate whatever outflows are bound to happen will restore confidence and they will be removed in a relatively short period of time in agreement with, that I say, the general rules of the eurozone and the European Union. • 14. Mid of woman using cash point • 15. SOUNDBITE: (English) Michalis Sarris, Cypriot Finance Minister: • To be frank, we're looking to a much smaller banking system over time, more concentrated on it's core business which is Cyprus and the international business units in Cyprus, significant de-leveraging certainly geographical detachment from a number of countries where one could argue it was too adventurous to have gone into. • 16. Wide of Sarris leaving • STORYLINE • The Governor of the Cypriot Central Bank, Panicos Demetriades said his institution is making 'super-human efforts' to open the country's banks on Thursday this week. • Demetriades spoke alongside Cypriot finance minister Michalis Sarris as several hundred Bank of Cyprus workers protested outside the Central Bank building. • Cyprus has extended the closure of its banks for two more days, until Thursday, a sudden postponement that came after the country's leaders spent days struggling to come up with a plan to raise the money needed to secure an international bailout. • After the news conference, Sarris said that he is confident the Cypriot banks will open on Thursday. • I think every day that they are not open creates more uncertainty and more difficulties for people. So we would like to do our utmost to make sure that this goal that we have said will work, the Sarris said. • Temporary restrictions will be imposed on financial transactions once the banks do, he said, but would not specify what they would be or how long they would be in place for. • All except the country's two largest lenders had been due to open on Tuesday morning after the country clinched an eleventh-hour deal with the 17-nation eurozone and the International Monetary Fund to provide Cyprus with a bailout. • However, the central bank made a surprise reversal just before midnight, announcing all banks would remain closed until Thursday while it and the lenders work on capital controls to limit the amount of money that can be withdrawn. • Sarris said authorities hope to limit job losses to a small number . • • • Find out more about AP Archive: http://www.aparchive.com/HowWeWork • Twitter: / ap_archive • Facebook: / aparchives • Instagram: / apnews • • • You can license this story through AP Archive: http://www.aparchive.com/metadata/you...

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