In a radical departure from previous eurozone rescues, finance ministers struck a deal to lend the indebted island €10 billion – but in return, depositors would have to forfeit up to 10% of their savings.
Frustration over a delayed bailout turned to incredulity and anger in Cyprus yesterday as islanders woke up to news that savers would be footing part of the bill to avert national bankruptcy.
In a radical departure from previous eurozone rescues, finance ministers struck a deal to lend the indebted island €10 billion – but in return, depositors would have to forfeit up to 10% of their savings.
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