Cyprus Rushes to Find Plan B

Cypriot officials rushed Wednesday to find a new plan to stave off bankruptcy, a day after Parliament rejected an initial scheme to contribute to the nation's bailout package by seizing up to 10 percent of people's bank savings. Tuesday's decisive rejection of the plan to take a slice of all deposits above 20,000 euros ($25,888) has left the country's bailout in question. Without the bailout, the Cypriot banking sector would collapse, devastating the country's economy and potentially...Full Story
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