OUCH!
"Cyprus clinched a last-minute solution to avert imminent financial meltdown early Monday after it agreed to slash its oversized banking sector and use funds raised by seizing bank assets from large deposit holders -- which in some cases could amount to 40 percent -- in troubled banks to secure a 10 billion euro ($13 billion) bailout."
http://www.foxnews.com/world/2013/03...#ixzz2OYvkyOzm
"Cyprus clinched a last-minute solution to avert imminent financial meltdown early Monday after it agreed to slash its oversized banking sector and use funds raised by seizing bank assets from large deposit holders -- which in some cases could amount to 40 percent -- in troubled banks to secure a 10 billion euro ($13 billion) bailout."
http://www.foxnews.com/world/2013/03...#ixzz2OYvkyOzm
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