#Whys: Cyprus bailout - Are you worried this could happen to you?
People in Cyprus have reacted with shock to news on a bailout agreed in Brussels. A one-off levy of up to 10% of their savings will go towards saving their countries economy.
People in Cyprus have reacted with shock to news on a bailout agreed in Brussels. A one-off levy of up to 10% of their savings will go towards saving their countries economy. The controversial plan, negotiated with the European Union and International Monetary Fund, marks a radical departure from previous eurozone bailouts. Previously, economic support or backing came from other eurozone countries. In the case of Cyprus, cypriots are being asked to bail themselves out.
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