Cyprus
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Mario Draghi, president of the ECB, explains why Cyprus is not a template for the rest of the euro zone and says he's "sure" Jeroen Dijsselbloem was misunderstood.
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The decision to force bank depositors in Cyprus to contribute towards a euro zone bailout could mean the country's economy could shrink by 15 percent over the next two years, investment bank Nomura said.
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As the Cypriot parliament decides on a deposit levy, the shadow of Russian money in the island looms large.
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Global markets traded lower and the euro hit a three-month low against the dollar as the decision by the euro zone to force bank depositors in Cyprus to contribute towards a bailout provided a stark reality check for investors.
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Risk assets fell across the board on Monday as Asian markets saw a massive sell-off after a weekend decision by the euro zone to force depositors in Cyprus to contribute towards a bailout sparked concerns of contagion across other peripheral countries.
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Do you think the deposit levy should be scrapped?
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Save-haven Gold hit a two-and-a-half week high on Monday as a controversial bailout plan for Cyprus sparked fresh uncertainty in the euro zone.
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It just may be that Cyprus' bailout deal raises more issues than it settles. Pimco CEO Mohamed El-Erian looks at the controversy.
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Cyprus' president was in talks to ease the terms of a bailout as he tried to scrape together support for the deal, the FT reports.
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The euro zone struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion), but demanded depositors in its banks forfeit some money to stave off bankruptcy.
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The euro zone's 17 finance ministers will meet on Friday to discuss a financial bailout of Cyprus, signalling growing momentum for a deal.