'Thieves': Russia Savages EU After Cyprus Gets £8.5billion Bailout Deal Which Could See Richest Investors Losing 40% Of Savings -- Daily Mail
* EU finance chiefs in last-minute agreement after 10 hours of negotiations
* IMF chief: 'It will form a lasting, durable and fully financed solution'
* Savers with more than £85,000 will lose up to 40 per cent of their money
* Uninsured funds to be frozen and used to pay off debts in bank restructure
* Cyprus will not to need to vote on deal because bank law already in place
* More than 60,000 British expats live on the island, so many face losses
* Russia angry about reforms and could 'freeze German assets' in country
* Russian PM: 'The stealing of what has already been stolen continues'
* European markets up as much as 1%, Asian stocks also see strong gains
* Bail-out expected to be well received in U.S. after Dow Jones fell last week
Moscow today accused the European Union of theft after it emerged the bailout of Cyprus would result in heavy losses for foreign depositors, many of whom are Russian.
The cash-strapped island nation needs a 10billion euro (£8.5billion) rescue package to recapitalise its ailing lenders and keep the government afloat.
But savers with more than £85,000 in its banks will lose up to 40 per cent of their cash as one of several draconian measures imposed by Brussels to stop the country going bust.
Eurozone banking shares rallied as much as 2.4 per cent at one point to lead a rally on global stock markets that reached as far as Australia.
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