Sunday, March 24, 2013

EU finance ministers approve Cyprus bailout deal

BRUSSELS (AP) — Cyprus avoided bankruptcy, and potential turmoil across the eurozone, by securing a last-minute 10 billion euro ($ 13 billion) bailout with promises to sharply cut back its oversized banking sector and make large bank account holders take losses to help pay much of the bill.
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EU finance ministers approve Cyprus bailout deal

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