Cyprus bailout to raid large deposits, massive austerity looms
Cyprus has managed to reach a last-minute deal with its creditors on a 10-billion euro bailout, crucial to prevent the country from bankruptcy. The rescue package, however, comes at a steep price - deposits above a 100,000 euros in the country's two largest banks will be raided with up to 40% tax. RT's Tesa Arcilla reporting from Nicosia. RT LIVE http://rt.com/on-air Subscribe to RT! http://w ...
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