Cyprus' savers bear brunt of unprecedented bailout




 
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March 17th, 2013  
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Topic: Cyprus' savers bear brunt of unprecedented bailout


By Annika Breidthardt and Robin Emmott and Michele Kambas BRUSSELS/NICOSIA (Reuters) - The euro zone agreed on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risk of a wider run on savings. The eastern Mediterranean island becomes the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help during the region's debt crisis. ...




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