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The inestimable Matina Stevis et. al.: Europe Plan to Aid Cyprus Raises Risks (WSJ, March 17, 2013)
Over 10 hours of tense negotiations that ended early Saturday, euro-zone finance ministers hammered out the rescue for Cyprus, a nation of 800,000 people, an economy of less than €18 billion, and an opaque banking system with some €70 billion in deposits, many of them held by Russians and other foreigners.


"It was the worst time in my life. It reminds me of the invasion of the Turks in 1974," said a Cypriot official involved in the negotiations.


This account of the negotiations in Brussels, the discussions that led up to them and the expected fallout, is based on interviews with eight officials who participated in or were briefed on the talks.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Sun Mar 17th, 2013 at 07:38:46 PM EST

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