Shock in Cyprus over bailout levy on bank deposits

  • 11 years ago
Cypriot savers have been queuing at cash machines - after waking up to the news that Brussels plans to enforce a levy of up to 10 percent on bank deposits as part of a bailout deal.

The Eurogroup and the International Monetary Fund (IMF) agreed a 10 billion euro rescue package for Cyprus, which is teetering on the edge of bankruptcy, late on March 15.

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