1 vote

Cyprus - Bank Chairman says adopt proposal to impose a levy on deposits more than 100,000 euros to save our banking system."

Analysis Gavin Hewitt Europe editor
Coming hours 'to decide Cyprus' fate

"Whatever the outcome, the legacy will be one of bitterness. I have seen anti-German posters and heard anti-German rhetoric in Greece, Spain, Italy and Portugal. But never has it been so open as in Cyprus.

Even if the Germans are right - and the Cypriot banking sector needs cutting in half - they are perceived as bullying outsiders.

This crisis has revealed yet again the faultline at the heart of the euro. Economic and monetary union has yoked together very different economies and cultures.

The stress of trying to blend them together is putting the European project under severe strain. Some economies are in a depression and the political fallout from this still lies ahead."

http://www.bbc.co.uk/news/world-europe-21893911