Voice of America: EU Officials: Cyprus, Lenders Reach Bailout Deal

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

EU Officials: Cyprus, Lenders Reach Bailout Deal Mar 25th 2013, 03:01 European Union officials say Cyprus has reached a bailout deal with international lenders that will see the country's second biggest bank shut down. Agreement was reached early Monday at last-minute talks in Brussels with the European Union, European Central Bank and International Monetary Fund. The deal includes closing down Cyprus' Laiki bank and moving deposits of $130,000 or less to the stronger Bank of Cyprus. Accounts of more than $130,000 are not insured by EU regulations and ...

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