Government proposal to tax bank balances at 6.7-9.9% on Tuesday.
Cyprus' savers bear brunt of unprecedented bailout
Cyprus president says depositors had to pay to avoid bankruptcy
Sat, Mar 16 2013
By Annika Breidthardt and Robin Emmott and Michele Kambas
BRUSSELS/NICOSIA | Sat Mar 16, 2013 7:52pm EDT
(Reuters) - The euro zone agreed on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risk of a wider run on savings.
more..
Cyprus' savers bear brunt of unprecedented bailout
Cyprus president says depositors had to pay to avoid bankruptcy
Sat, Mar 16 2013
By Annika Breidthardt and Robin Emmott and Michele Kambas
BRUSSELS/NICOSIA | Sat Mar 16, 2013 7:52pm EDT
(Reuters) - The euro zone agreed on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risk of a wider run on savings.
more..
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