Cyprus bank robbery is back on
Large depositors may as well have a gun stuck in their faces
After Russia turned down a proposal to finance the Cypriot bailout in exchange for the rights to Cypriot oil leases, there weren't many options left. And here we are. The European Union has approved a $13 billion bailout plan that will be funded in part by seizing bank assets, including up to 40 percent of large bank deposits in the troubled island nation.
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