‘Euro rescuers close down their first bank’

Published on 25 March 2013 at 12:20

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The Eurogroup's decision to liquidate Laiki Bank, the second largest banking group in Cyprus, is the first such decision taken by the organisation since the onset of the Eurozone crisis at the end of 2009.
Following a meeting of finance ministers, Germany’s Wolfgang Schäuble, who has advocated a “hard line” with Nicosia, described the bailout deal negotiated with Cyprus as “fair”.

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