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News Link • Economy - International

The Cyprus File


Here is Das’s summary of the Cyprus deal points and possible outcomes.

But first, the latest news snapshot:

The bailout terms are still changing (that controversial haircut for small depositors was a major sticking point); Cypriot parliament to vote on Tuesday (and there are rumours that even that’s postponed); at the moment the banks in Cyprus will be closed until Thursday (unless still more time is needed to find terms that the Cyprus parliament will agree…). Grumpy Russians toss a spanner in the works, saying “The EU took action to levy a tax on deposits without consulting Russia, and for this reason we will further consider the issue of our participation from the point of view of restructuring the earlier loan”. So this update will soon be out of date too…  

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