Cyprus Bailout: Deal Reached In Eurogroup Talks -- BBC
Eurozone finance ministers have agreed a deal on a 10bn-euro bailout for Cyprus to prevent its banking system collapsing and keep the country in the eurozone.
Reports suggest the deal will include a levy on deposits of more than 100,000 euros in Cyprus's two biggest banks.
The levy on deposits in Laiki (Popular) Bank - the country's second-biggest - could be as high as 40%, reports say.
The European Central Bank had set a deadline of Monday for a deal.
Laiki is also likely to be split into "good" and "bad" banks.
The deal is good news for Cyprus' small account holders, the BBC's Christian Fraser reports from Paris.
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More News On The Debt/Financial Crisis In Cyprus
Cyprus bailout: last-ditch deal agreed - live -- The Guardian
Cyprus secures bailout, avoids bankruptcy -- AP
Cyprus Said to Reach Tentative Deal to Avert Default -- Bloomberg
Euro Finance Chiefs Agree to Cyprus Deal Paving Way for Bailout -- Bloomberg Businessweek
Cyprus strikes last-minute EU bailout deal -- The Guardian
Cyprus, Troika Reach Consensus on Key Parameters of Deal-EU Source -- Wall Street Journal
Revamped Cyprus deal to close bank, force losses -- Reuters
Cyprus told: take bank levy or leave euro -- The Guardian
1 comment:
Banks in Cyprus really suffers nowadays. The Cyprus must support their banks of they want to escape this economic crisis.
bailouts
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