All banks in Cyprus will remain closed until Thursday - despite earlier reports that all but two of the country's banks would re-open in the morning.
The Cypriot president has confirmed that restrictions will be put on capital flows - temporarily.
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It's expected there will be a limit on the amount of money that can be withdrawn when the banks re-open.
It follows agreement on a bailout for Cyprus in a deal that protects bank deposits of up to 100 thousand euro.
However, anyone with deposits over that amount will be given a haircut of up to 30 per cent.
The Cypriot government says the country was on the brink of economic collapse, and insists that quitting the single currency was not an option.
Editor of Cyprus Weekly, Charlie Charalambus says some people believe that Cyprus would be better off without the Euro:
