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MAR 21, 2013 - The Guardian

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Cyprus crisis: politicians race to agree details of 'plan B'

ECB ratchets up pressure as party leaders met to agree a package that would satisfy its eurozone partners and the IMFCypriot politicians were racing to agree details of a "plan B" to rescue their economy on Thursday night, after the European Central Bank threatened to withdraw support for the country's banking sector if a bailout was not agreed by Monday.The country's second-largest bank, Laiki, is to be restructured as part of the plan. It will avert bankrupcy and protect savers with up to €100,000, according to the country's central bank governor, Panicos Demetriades.The move came hours ... Read More

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