[QODLink]
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.

58

Source:
Al Jazeera
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
Featured
Booming global trade in 50-million-year-old amber stones is lucrative, controversial, and extremely dangerous.
Legendary Native-American High Bird was trained in ancient warrior traditions, which he employed in World War II.
Hounded opposition figure says he's hoping for the best at sodomy appeal but prepared to return to prison.
Fears of rising Islamophobia and racial profiling after two soldiers killed in separate incidents.
Group's culture of summary justice is back in Northern Ireland's spotlight after new sexual assault accusations.