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Europe

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.
Last Modified: 16 Mar 2013 18:21

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.

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Source:
Al Jazeera
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