Bank Chief Says Cyprus Sought Aid Too Late

Cyprus' Central Bank head Panicos Demetriades told a judicial panel banks brought themselves to the edge of ruin with big holdings in Greek bonds that were devalued 74 percent and took hits in bad Greek loans, losing 4.5 billion euros ($5.96 billion). NICOSIA -- The head of Cyprus' central bank said on Aug. 13 that the upheaval of an international bailout in March could have been ...

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