The Cypriot president tweeted his thanks to citizens for staying calm as national banks reopened. Source: AAP
CYPRIOTS have stayed calm as banks reopened after a nearly two-week lockdown, with the first capital controls of their kind in the eurozone saving the island from a catastrophic bank run.
President Nicos Anastasiades tweeted his thanks to the citizens of the bailed-out eastern Mediterranean nation for their "maturity" after they patiently formed queues at banks that had been shuttered since March 16.
Dozens of people were waiting outside banks when doors finally swung open, but the lines had vanished when they closed six hours later, and security guards posted at most branches had little to do.
World stocks were largely up and the euro recovered versus the US dollar, despite lingering fears the crisis could spread to Italy, Spain and Slovenia.
The 10-billion-euro ($A12.5 billion) EU-IMF rescue granted to Cyprus on Monday was the first to impose a levy on bank depositors, while Cyprus is the first bailed-out eurozone nation to impose curbs on the movement of money.
Foreign Minister Ioannis Kasoulides said the restrictions could be lifted within a month "if everything goes as well as it did today".
Banks were handing customers lists of the curbs including a daily withdrawal limit of 300 euros ($A370), a ban on the cashing of cheques and a 1000-euro ceiling on money being taken abroad by travellers.
Some people were even making deposits.
"There is confidence, everything was fine," unemployed electrician Philippos Philippou said as he emerged from a branch of Laiki bank, which will be wound up under the bailout.
Five shipping containers filled with billions of euros were delivered to the Cyprus central bank late on Wednesday, guarded by a helicopter and police cars.
The German central bank or Bundesbank told AFP it had supplied the banknotes, which came from the reserves of the Frankfurt-based European Central Bank (ECB) that are stored by the Bundesbank.
After the banks reopened, Anastasiades, who was elected only one month ago, gave "sincere thanks and deep appreciation" to Cypriots for not panicking at a "critical time".
Anastasiades has decided to cut his own salary by 25 per cent, while cabinet members will take a 20 per cent reduction.
The cabinet has also appointed three ex-supreme court judges to probe whether "criminal, civil and political responsibilities" were involved in the meltdown, presidential undersecretary Constantinos Petrides said.
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