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Posted by on Mar 17, 2013 in Economy, Featured, International | 0 comments

Bank Run in Cyprus; Who’s Next?

Bank Run in Cyprus; Who’s Next? (via Market Shadows)

Courtesy of The Automatic Earth. Overnight last night, the Eurogroup (Eurozone executive committee) negotiated a deal for a bailout of the banking system in Cyprus. As part of the deal, a one-time, one-off levy on depositors was agreed: deposits below €100,000 are subject to a 6.75% levy, while those…