"Calling Angela."

On the night of 24 and 25 March, Cyprus and the troika of international lenders (the EU, ECB, and IMF) reached an agreement on a €10bn bailout that should enable the island to avoid bankruptcy and an exit from the eurozone.
The agreement, which, among other measures includes a haircut for bank assets in excess of €100,000 euros and the closure of the country's second largest bank, has been described as "fair" by Germany and "stealing" by Russia, which is home to a large number of depositors on the island.
During negotiations, which lasted more than a week, the island's banks remained closed to avoid a bank run, which would have deprived them of their cash assets.

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