Arab Today, arab today euro group and cyprus agree on bailout deal
Last Updated : GMT 16:54:26
Arab Today, arab today
Arab Today, arab today

Euro group and Cyprus agree on bailout deal

Arab Today, arab today

Arab Today, arab today Euro group and Cyprus agree on bailout deal

Brussels - KUNA

The 17-member Euro group, the International Monetary Fund, and Cyprus reached an agreement in Brussels in the early hours of Monday to prevent the Mediterranean island from bankruptcy. \"I am pleased to announce that the Euro group has reached a new political agreement with the Cypriot authorities on the key elements of an adjustment programme,\" Euro Group President Jeroen Dijsellbloem told a press conference. The Euro group said it will provide financial assistance for an amount of up to 10 billion euro to Cyprus, he noted. Under the deal, Cyprus\' second-largest bank, Laiki (popular), will be resolved immediately. Laiki will be split into a good bank and a bad bank. The bad bank will be run down over time. The good bank will be folded into Bank of Cyprus, noted a Euro group statement. All deposits below 100.000 euros in Cypriot banks will be safeguarded in accordance with EU principles, it said. However, the bank levy percentage on deposits of more than 100,000 in the Bank of Cyprus will be decided in the coming weeks, Dijsselbloem said. On his part, Cypriot Finance Minister Michalis Sarris told journalists after the Euro group meeting, \"we did not win a battle but we avoided a disastrous exit from the euro zone.\" \"There is no denial that Cypriot people will go through tough times as a result of mistakes at the banking level and fiscal excesses,\" added Sarris.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro group and cyprus agree on bailout deal Arab Today, arab today euro group and cyprus agree on bailout deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro group and cyprus agree on bailout deal Arab Today, arab today euro group and cyprus agree on bailout deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday