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    Sarris insists "disaster avoided" for Cyprus

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    Disaster avoided for the many maybe, pain for the few for sure, and a palpable sense of relief on the podium as Cyprus's Finance Minister promised the banks would reopen soon after the last-ditch deal on the EU bailout was clinched.

    Laiki bank will go under along with thousands of jobs, but the alternative was truly horrendous for Cyprus.

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