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Cyprus banks remain closed to avert run on deposits

• Reuters
 
The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday - and even then subject to capital controls to prevent a run on deposits.

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Comment by Powell Gammill
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Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief

Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced.

Cyprus Salvaged After EU Deal Shuts Bank to Get $13B

Cyprus strikes last-minute EU bailout deal

TEXT-Detail of EU/IMF bailout agreement with Cyprus


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