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Cyprus strikes deal to close second-largest bank and tax deposits over €100,000
Deal will reportedly involve heavy losses for wealthy investors, while those with savings under €100,000 will be spared European leaders reached an agreement with Cyprus early on Monday morning to close down the island’s second biggest bank and inflict huge losses on wealthy savers. Russians would lose billions of euros…
Cyprus requests €5 billion bailout loan
Cyprus announced late on Monday that it had requested assistance from its eurozone partners, becoming the fifth out the 17 countries that share the euro to seek a rescue. “The government of the Republic of Cyprus has today informed the appropriate European authorities of its decision to submit to euro…
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