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Security is tight in Cyprus as banks prepare to reopen nearly two weeks after closing while a controversial international bailout was negotiated.

Banks were replenished with cash overnight and police and private security guards have been deployed.

Customers face strict controls to stop a bank run and will be able to withdraw only 300 euros ($383;£253) a day.

The restrictions on the free movement of capital represent a profound breach of an EU principle, correspondents say.

However, the European Commission on Thursday justified the move, saying the “stability of financial markets and the banking system in Cyprus constitutes a matter of overriding public interest”.

Cyprus is the first eurozone member country to bring in capital controls
Cyprus needs to raise 5.8bn euros to qualify for a 10bn-euro bailout from the European Union, European Central Bank and the International Monetary Fund, the so-called troika.

As part of the bailout plan, depositors with more than 100,000 euros will see their savings taxed in exchange for bank shares.

An earlier plan to tax small depositors was vetoed by the Cypriot parliament last week.