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>> EUROZONE Latest News

MAR 16, 2013 - Business Insider

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CYPRUS PRESIDENT: Nation Faces Total Financial Collapse And Euro Exit Without Bailout

In the early hours of Saturday, Cyprus agreed to a "bailout" with the EU and IMF that is very  controversial because it imposes an immediate one-time tax on everyone with money in a Cypriot bank before banks reopen on Tuesday (Monday is a holiday). The deal still needs to be passed by Parliament and that's not a sure thing. Ekathimerini has this report: The Cypriot government is now sweating over a possible rejection by the island’s parliament of the shocking set of measures imposed on Nicosia for the eurozone to bail its economy out of a likely default, announced in the early ... Read More

Tags: CYPRUS PRESIDENT: Nation Faces Total Financial Collapse And Euro Exit Without Bailout,  Eurozone Latest News