16th October 2019 Issue no. 479
Your industry news - first
G4S security guards sent in as Cyprus banks reopen
Cyprus has hired guards from British security firm G4S to handle the surge of customers as the country's banks reopen. More than 180 guards have been despatched across the island with police protection as the banks seek to impose a €300 (£253) limit on withdrawals.
The firm - which was hit with an £85million bill last summer over the London 2012 security fiasco - has reportedly been working overnight to ensure cash machines are stocked.
John Argyrou, managing director of G4S's Cypriot arm, said: "Our presence there will be for the comfort of both bank staff and clients.
'There may be some isolated incidents, but it's in our culture to be civil and patient, so I don't expect anything serious."
Cyprus's banks had been closed for almost two weeks as the country engaged in protracted negotiations for an £8.5billion international bailout.
3rd April 2013