EU rescue terms spark run on Cyprus banks
Savers react with shock after government agrees to levy on deposits in return for $13bn rescue package.
Published On 16 Mar 2013
Savers in Cyprus have been told that a proportion of their money in the bank is going to be taken from them.
Their government agreed to do this as part of a $13bn loan they secured in Brussels. The country’s president is preparing to make an emergency statement on Sunday to try and calm investors’ fears.
Al Jazeera’s Peter Sharp reports.
Source: Al Jazeera