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Damn! Cyprus, International Lenders Reach Draft Bailout Deal

Cyprus and its international lenders have reached a draft deal to rescue Cyprus, sources said told CNBC.

No levy will be imposed on any deposits in Cypriot banks, but there will be a 'bail in' of Laiki depositors.

The draft proposal is subject to approval by euro zone finance ministers.

The euro jumped above $1.30 in early Asia trade on Monday on news that a deal has been reached.

http://www.cnbc.com/id/100585793



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wow

This is so convoluted. So any one 100K plus is SOL?

Nobody is ever going to put money in there again.

The Euro was spared just before the markets opened with this arrangement.

Have to see how the Cypriots react I guess.

donvino

It was funny Fox news

It was funny Fox news reported it as a good thing minutes after it was announced. Stock in Polonium-210 shot through the roof immediately following. Not to be approved by Cypriot Parliament that got zero yes votes on the last package. They not only stole the peoples money, they also stole the countries vote on the matter.

Get ready for this.