Cypriot Banks Face Winding-Up If No Levy Agreed: EU Official: The European Union gave Cyprus till Monday to raise the billions of euros it needs to secure an international bailout or face a collapse of its financial system that could push it out of the euro currency zone.
Cyprus cabinet in crisis session on bailout 'Plan B': The government urged against panic while it redrew the plan to resolve the chaos unleashed by an initial scheme to tax bank accounts -- many of them Russian -- by 5.8 billion euros ($7.47 billion) to complement 10 billion euros in eurozone and IMF loans between now and 2016.Now It's Getting Real In Cyprus: One of their banks is reported to have just "hours" of liquidity left (how many hours, may I ask?) There were demonstrations that looked a lot like a riot to me, with attempts to come after members of the Parliament (you're getting warmer folks.)
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