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MAR 16, 2013 - Business Insider

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This Crazy Cyprus Deal Could Screw Up A Lot More Than Cyprus...

You can be forgiven for thinking that you don't need to give a hoot about what's going on in Cyprus this weekend. After all, it's just a little island somewhere in the Mediterranean. But what's going on in Cyprus could actually matter--not just to the rest of Europe, but to the rest of the world. Here's the short version of what's happening: Cyprus's banks, like many banks in Europe, are bankrupt. Cyprus went to the Eurozone to get a bailout, the same way Ireland, Greece, and other European countries have. The Eurozone powers-that-be gave Cyprus a bailout--but with a startling condition that ... Read More

Tags: This Crazy Cyprus Deal Could Screw Up A Lot More Than Cyprus...,  Eurozone Latest News