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Imf Cyprus Bailout

Cyprus Bailout: A Really Bad Deal

Elena Panaritis | Posted 05.17.2013 | World
Elena Panaritis

The big euro news this weekend is playing out in Cyprus where the newly-elected government agreed to a 10 billion euro bailout. One of the conditions of the bailout is a controversial one-off tax of 9.9% on all bank deposits of more than 100,000 Euros. This news was met with disbelief.