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Wednesday, March 20, 2013

Cyprus throws bailout into disarray, seeks Russian help

Cyprus' President Anastasiades chairs a meeting with party leaders and governor of the Central Bank of Cyprus at the presidential palace in NicosiaBy Michele Kambas and Karolina Tagaris NICOSIA (Reuters) - Cypriot leaders held crisis talks on Wednesday to avert financial meltdown after rejecting the terms of a European Union bailout and throwing efforts to rescue the latest casualty of the euro zone debt crisis into disarray. The rejection of an unprecedented levy on bank deposits, a condition of a 10 billion euro ($12.89 billion) EU bailout, cast the 17-nation currency bloc into uncharted waters after Greece, Portugal, Ireland, Spain and Italy all accepted biting austerity measures over the last three years to secure European aid. ...



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