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Tuesday, March 26, 2013

Cyprus bank shutdown enters second week

A man passes a sprayed entrance of a store that buys gold which reads in Greek " thieves" in capital Nicosia, Cyprus, Monday, March 25, 2013. Cyprus secured what its politicians described as a “painful” solution to avert imminent bankruptcy, agreeing early Monday to slash its oversize banking sector and make large account holders take losses to help pay to secure a last-minute euro10 billion (US$13 billion) bailout. (AP Photo/Petros Giannakouris)NICOSIA, Cyprus (AP) — Banks across Cyprus remain locked Tuesday after financial authorities extended the country's bank closure, fearing worried depositors will rush to drain their accounts. The shut-down is hammering businesses, which have been without access to their funds for more than a week.



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