Fury In Cyrpus Over Back Account Seizures -- News Roundup



Cyprus Closes Banks To Stop Run Amid Fury Over Bailout -- The Guardian

Eurozone finance ministers hold emergency talks as vote on aid package in Cyprus parliament is delayed for second day

Cyprus took the unprecedented step on Monday of closing its banks until Thursday as officials scrambled to renegotiate the terms of a controversial bailout that threatens to force savers to take a €5.8bn (£5bn) hit to their deposits.

Finance ministers from the 17-country eurozone held an emergency video conference call and concluded that small depositors should not be hit as hard as others. They said the Cypriot authorities could stagger the deposit seizures, but remained firm in demanding that the overall sum of money raised remained the same. Cyprus state media said accounts with less than €20,000 may be spared.

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