Damn! Cyprus, International Lenders Reach Draft Bailout DealSubmitted by go213mph on Sun, 03/24/2013 - 20:09
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.