The new deal will see uninsured deposits at the country's
two largest banks take a substantial haircut, but insured depositors – those
with less than 100,000 euros in their bank accounts – will be spared from the
one-off "tax" that was being considered just a week ago.
Reports of a deal between Cypriot and EU officials being
reached prior to the Eurogroup meeting caused the euro and the Australian stock
market to spike. Now, the Eurogroup has
signed off on the deal as well...
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